Average gas price jumps 15 cents overnight in LA County, largest increase since 2015

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, Wednesday, rising 14.9 cents to $6.108, its highest amount since July 12.

The average price has risen for 26 consecutive days, increasing 86.2 cents, including 11.9 cents Tuesday and 11 cents Sunday, according to figures from the AAA and Oil Price Information Service. It is 56.3 cents more than one week ago, 82.7 cents higher than one month ago, and $1.699 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 35.4 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 also recorded its largest increase since July 14, 2015, rising 15.5 cents to $6.092, its highest amount since July 9. It has risen 11 of the past 12 days, increasing 70.8 cents, including 10.6 cents Tuesday and 14 cents Sunday. It is 57.2 cents more than one week ago, 90.8 cents more than one month ago, and $1.724 higher than one year ago.

The Orange County average price is 31.8 cents less than the record of $6.41 set on June 12.

The Orange County average price rose 15.7 cents on July 14, 2015.

"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 prices 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 eighth consecutive day following a 98-day streak of decreases totaling $1.342, increasing 1.8 cents to $3.765. It has risen 9.1 cents over the past eight days, including 2.2 cents Tuesday.

The national average price is 8.4 cents more than one week ago and 57.8 cents higher than one year ago but 8.8 cents less than one month ago.

The national average price is $1.251 less than the record $5.016 set June 14.

Copyright 2022, City News Service, Inc.

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