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LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County rose two-tenths of a cent today to $4.401.
The average price is three-tenths of a cent less than one week ago but nine-tenths of a cent more than one month ago and $1.183 higher than one year ago, according to figures from the AAA and Oil Price Information Service. It has risen $1.169 since the start of the year.
The Orange County average price dropped two-tenths of a cent to $4.358. It is a half-cent less than one week ago and three-tenths of a cent lower than one month ago but $1.17 more than one year ago. It has risen $1.15 since the start of the year.
Wholesale Los Angeles gasoline is trading at about $2.15 per gallon, more than $2 below current retail price averages, Tom Kloza of Oil Price Information Service reported Thursday.
“A combination of plentiful imported gasoline in Southern California and (Hurricane) Ida-related increased gasoline costs elsewhere is the reason for this unusual situation,'' said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager. “We should be starting to see some substantial retail price decreases soon.''
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