LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County rose Sunday for the 11th time in the last 13 days, inching up one-tenth of a cent to $4.93.
The average price has increased 7.9 cents over the past 13 days, including 1.1 cents Saturday, according to figures from the AAA and Oil Price Information Service. It is 5.9 cents more than one week ago, but 2.9 cents less than one month ago and 94.3 cents lower than one year ago. The average price has dropped $1.564 since rising to a record $6.494 on Oct. 5.
The Orange County average price also rose for the 11th time in 13 days, increasing three-tenths of a cent to $4.913. It has risen 11.1 cents over the past 13 days, including 1.7 cents Saturday. The Orange County average price is 8.3 cents more than one week ago, but 1.9 cents less than one month ago and 91.7 cents lower than one year ago. It has dropped $1.546 since rising to a record $6.459 on Oct. 5.
The national average price rose for the 12th consecutive day, increasing six-tenths of a cent to $3.601. It has increased 16.6 cents over the past 12 days, including 1.4 cents Saturday.
The national average price is 9.6 cents more than one week ago and 13.4 cents higher than one month ago, but 52.2 cents less the one year ago. It has dropped $1.415 since rising to a record $5.016 on June 14.
"The oil market has had a few days to digest the OPEC news and speculate about the reason," said Andrew Gross, an AAA national public relations manager. "This has led to the price of oil stabilizing for now but the cost of oil accounts for more than 50% of what we pay at the pump, so drivers may not catch a break at the pump any time soon."