Southland gas prices continue to rise
LOS ANGELES (CNS) – The average price of a gallon of self-serve regular gasoline in Los Angeles County rose to its highest amount since Nov. 4 today, increasing 1.6 cents to $4.033.
The Los Angeles County average price has risen 33 of the past 35 days and 37 of the past 40, including 1.1 cents on Monday, according to figures from the AAA and Oil Price Information Service.
The average price is 25.6 cents more than one week ago, 38 cents higher than one month ago and 22.7 cents greater than one year ago.
Los Angeles County has the state’s highest average price and is one of five regions where the average for self-serve regular is above $4. The lowest average price is $3.747 in Modesto.
The Orange County average price rose 1.3 cents today to $4.015, one day after surpassing the $4 mark for the first time since Nov. 3.
The Orange County average price is the third highest in the state behind Los Angeles County and Ventura County ($4.018). It has risen 38 times in the past 43 days, increasing 46.4 cents over that span, including 1.1 cents on Monday.
The Orange County average price is 26.1 cents more than one week ago, 37.9 cents higher than one month ago and 22.2 cents greater than one year ago.
The increasing prices are the result of higher oil prices, Middle East tensions, maintenance issues at refineries and investors shifting their money into the gasoline market “earlier and earlier,” according to Jeffrey Spring of the Automobile Club of Southern California.