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LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County rose six-tenths of a cent today to $4.451 after increasing by two-tenths of a cent for two consecutive days.
The average price is at its highest amount since Oct. 23, 2012, and 2 cents more than one week ago, 4.6 cents higher than one month ago and $1.258 greater than one year ago, according to figures from the AAA and the Oil Price Information Service.
The Orange County average price rose four-tenths of a cent to $4.413, one day after remaining unchanged. It is at its highest amount since Oct. 23, 2012, and 1.4 cents more than one week ago, 5.2 cents higher than one month ago and $1.255 greater than one year ago.
“The key driver for this recent rise in the price of gas is crude oil, which typically accounts for between 50% and 60% of the price at the pump,'' said Andrew Gross, an AAA public relations manager.
The price of a barrel of West Texas intermediate crude for November delivery on the New York Mercantile Exchange dropped 20 cents Wednesday to $80.44, one day after rising to its highest amount since 2014.
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