LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County rose four-tenths of a cent today to $3.189, its highest amount since March 25, after back-to-back increases of two-tenths of a cent.
The average price is 1.1 cents more than a week ago and 9.3 cents higher than one month ago but 48 cents less than one year ago, according to figures from the AAA and Oil Price Information Service. It has decreased 42.6 cents since the start of the year.
The Orange County average price rose three-tenths of a cent to $3.174, its highest amount since March 25, one day after increasing two-tenths of a cent.
The price is six-tenths of a cent more than a week ago and 9.5 centshigher than one month ago but 46.6 cents less than one year ago. It has decreased 37.1 cents since the start of the year.
Two factors point to rising supply and reduced demand which customarily leads to lower prices.
“Following a large drawdown of gasoline inventories the week before, California saw nearly 300,000 barrels added this past week,'' said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
“As short as it was, summer driving season may already be coming to an end with many school districts starting in August.''
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