LA County gas prices at highest level since 2012

LOS ANGELES (KABC) -- Barack Obama was about to win re-election for president the last time gas prices were this high in Southern California.

The average price of self-serve regular gasoline rose Wednesday for the ninth consecutive day, increasing to $4.52. That's the highest it's been since October of 2012.

Regular gas has increased 8.4 cents over the nine days. It is 8 cents more than one week ago, 10.5 cents higher than one month ago and $1.341 greater than one year ago.

The record price is $4.705, set on Oct. 9, 2012.

It's not much better in Orange County, where the average price for gas is $4.49.

The rising gas prices are being fueled by high crude oil prices.

"Even higher gas prices are expected in the weeks ahead because of OPEC holding back oil production and strong global oil demand," according to Patrick De Haan, head of petroleum analysis for GasBuddy, which provides real-time gas price information from more than 150,000 stations.

"Until several bottlenecks ease, including supply chains and low global inventories of oil, natural gas and coal, we'll be stuck feeling the pinch of rising oil and gasoline prices,'' De Haan said. "The bad news is that for now, all I see is the upward trend at the pump continuing into the weeks ahead with no sign of relief just yet.''



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City News Service contributed to this report.
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