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 $3.196, its highest amount since March 25, one day after increasing a half-cent.
The average price is seven-tenths of a cent more than a week ago and 7.3 cents higher than one month ago but 40.8 cents less than one year ago, according to figures from the AAA and Oil Price Information Service. It has decreased 41.9 cents since the start of the year.
The Orange County average price rose eight-tenths of a cent to $3.182, its highest amount since March 24, one day after increasing three-tenths of a cent. It is eight-tenths of a cent more than a week ago and 7.9 cents higher than one month ago but 40.1 cents less than one year ago. It has decreased 36.3 cents since the start of the year.
The Oil Price Information Service reported Thursday “that refiners were buying excess supply on the spot market, indicating a possible production shortfall,'' said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager.
“If that trend holds for the next few days, we can expect pump prices to start rising again,'' Spring said.
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