Average L.A. County Gas Price Resumes Increasing


US-HEALTH-VIRUS-OIL-ENERGY-MARKET

LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County resumed increasing today, rising eight-tenths of a cent to $2.99, one day after dropping one-tenth of a cent, the second decrease in 21 days.

The average price is 3.7 cents more than a week ago and 15 cents higher than a month ago but 87.1 cents less than one year ago, according to figures from the AAA and Oil Price Information Service. It has decreased 62.5 cents since the start of the year.

The Orange County average price rose today for the 33rd time in 35days, increasing nine-tenths of a cent to $2.96. It has risen 19 cents over the past 35 days, including one-tenth of a cent on Monday.

The Orange County average price is 3.7 cents more than one week ago and 16.7 cents higher than one month ago but 86.7 cents less than one year ago. It has dropped 58.5 cents since the start of the year.

The Orange County average price rose for 20 consecutive days, was unchanged May 26, rose each of the next five days, was unchanged June 1 and resumed rising the next day.

A key factor in the rising prices is increased demand for gasoline caused by the increase in people driving and the continued reduced level of gasoline production by state refineries, according to Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.

The crude oil price and supply and demand are the most important factors in the gas price.

Photo: Getty Images


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