LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County rose one-tenth of a cent today to $4.175, the third slight increase following the end of a 21-day streak of increases.
The average price rose two-tenths of a cent on both Sunday and Monday after the streak of increases totaling 14.5 cents ended Saturday with a decrease of one-tenth of a cent, according to figures from the AAA and Oil Price Information Service.
The average price is 2.1 cents more than one week ago, 16.2 cents higher than one month ago and $1.30 greater than one year ago. It has risen 94.3 cents since the start of the year to its highest amount since Oct. 20, 2019, mainly because of a run of 59 increases in 60 days totaling 57.9 cents that ended March 21.
The Orange County average price rose four-tenths of a cent to $4.132, one day after dropping a half-cent. It is 1.6 cents more than one week ago, 14.8 cents higher than one month ago and $1.288 greater than one year ago.
The Orange County average price has risen 92.4 cents since the start of the year, mainly because of a run of 72 increases in 73 days totaling 68.1 cents that ended March 20.
The large price increases from one year ago are the result of significant decreases during the early stage of the coronavirus pandemic, when driving and demand dropped substantially because of stay-at-home orders intended to reduce the spread of the virus.
“Gas price increases are tapering off a bit in Southern California as the supply-and-demand situation sorts itself out,'' Marie Montgomery, a public relations specialist with the Automobile Club of Southern California, told City News Service.
“California's high gas prices are attracting imports from Asia, which should help to stabilize supply and pump prices.''
The crude oil price, and supply and demand, are the two most important factors in the pump price.
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