Average price of gas in LA County jumps 11 cents, largest overnight increase since 2015
Drivers might see some relief in November when stations are again allowed to sell winter-blend gas, which is cheaper to produce.
LOS ANGELES (CNS) -- The average price of a gallon of self-serve regular gasoline in Los Angeles County recorded its largest increase since July 14, 2015, Tuesday, rising 11.9 cents to $5.959, its highest amount since July 18.
The average price has risen for 25 consecutive days, increasing 71.3 cents, including 4.1 cents Monday and 11 cents Sunday, according to figures from the AAA and Oil Price Information Service. It is 49.9 cents more than one week ago, 67.4 cents higher than one month ago, and $1.549 greater than one year ago.
The current streak of increases follows a run of 78 decreases in 80 days totaling $1.216. The average price is 50.3 cents less than the record high of $6.462 set June 14.
The average price rose 15.1 cents on July 14, 2015.
The Orange County average price rose 10.6 cents to $5.937, its highest amount since July 14. It has risen 10 of the past 11 days, increasing 55.3 cents, including 2.3 cents Monday and 14 cents Sunday. It is 50.7 cents more than one week ago, 74.8 cents more than one month ago, and $1.575 higher than one year ago.
The Orange County average price is 47.3 cents less than the record of $6.41 set on June 12.
"A string of planned and unplanned refinery maintenance issues has severely tightened fuel supply in California," said Doug Shupe, the Automobile Club of Southern California's corporate communications manager. West Coast fuel inventories are at the lowest level in about a decade according to Energy Information Administration.
"Until the refineries are fully operational again, supply is going to be tight and will cause pump to be volatile."
There may be "some relief" in November when stations are again allowed to sell winter-blend gas which is cheaper to produce, Shupe told City News Service.
The national average price rose for the seventh consecutive day following a 98-day streak of decreases totaling $1.342, increasing 2.2 cents to $3.747. It has risen 7.3 cents over the past seven days, including 1.1 cents Monday.
The national average price is 11 cents less than one month ago and 55.8 cents more than one year ago. It has dropped $1.269 since rising to a record $5.016 June 14.
Copyright 2022, City News Service, Inc.
