LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County rose today for the 16th consecutive day and 36th time in 37 days, increasing 2.4 cents to $3.705, its highest amount since Dec. 12, 2019.
The average price has increased 35.7 cents in the past 37 days, including 1.6 cents on Wednesday, according to figures from the AAA and Oil Price Information Service. It is 13.5 cents more than one week ago, 30.3 cents higher than one month ago and 13.9 cents greater than one year ago.
The Orange County average price rose for the 17th consecutive day and 50th time in 51 days, increasing 2.2 cents to $3.694, its highest amount since Dec. 5, 2019. It has increased 47 cents in the last 51 days, including 1.1 cents on Wednesday.
The Orange County average price is 13.4 cents more than one week ago, 31.1 cents higher than one month ago and 17.5 cents greater than one year ago.
“One of the major factors behind rising gas prices in Southern California is trader activity in the futures markets, an indicator that traders see California gasoline as a good investment because it historically goes up in the spring,'' said Marie Montgomery, a public relations specialist with the Automobile Club of Southern California.
“There's not a lot of actual return of gasoline demand to pre-pandemic levels, but traders are predicting it will pick up once vaccine distribution is more widespread.''
Photo: Getty Images
Copyright 2021 City News Service, Inc.