LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County rose today for the seventh consecutive day, increasing three-tenths of a cent to $4.407, its highest amount since Oct. 23, 2012.
The average price has risen 2.1 cents over the past seven days, including one-tenth of a cent Monday, according to figures from the AAA and Oil Price Information Service. It is 3.6 cents more than one month ago and $1.18 higher than one year ago. It has risen $1.17 since the start of the year.
The Orange County average price was unchanged, remaining at $4.367, ending a three-day streak of slight decreases, including two-tenths of a cent Monday. It is 1.7 cents more than one week ago, 2.4 cents higher than one month ago and $1.16 greater than one year ago. The Orange County average price has risen $1.15 since the start of the year.
There may be “a short-term spike in gas prices locally because oil production closures around New Orleans has increased the benchmark price of oil,'' Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager, told City News Service.
Spring said he expects the local impact of higher oil prices caused by Hurricane Ida will be short-lived as long as the damage to those refineries is minimal.
Oil from the Gulf of Mexico region is not used in the production of gasoline sold in Southern California.
The price of a barrel of West Texas intermediate crude closed at $69.21 Monday on the New York Mercantile Exchange, up 47 cents. It closed at $65.46 on Aug. 18.
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