The average price of a gallon of self-serve regular gasoline in Los Angeles County rose four-tenths of a cent Friday to $4.312, returning to the trend of rising prices one day after a run of 15 increases in 16 days ended when it was unchanged.
The average price has risen 6.6 cents over the past 18 days to its highest amount since May 2, 2014, according to figures from the AAA and Oil Price Information Service. It is 2.7 cents more than one week ago, 8 cents higher than one month ago and $1.234 greater than one year ago.
The average price has risen $1.08 since the start of the year. The large price increase from one year ago is mainly the result of significant decreases during the early stage of the coronavirus pandemic, when driving and demand dropped substantially because of stay-at-home orders intended to reduce the spread of the virus.
The Orange County average price rose two-tenths of a cent to $4.271, the 11th increase in 13 days. It has increased 6.8 cents over the past 13 days, including a half-cent Thursday to its highest amount since July 16, 2015.
The Orange County average price is 3.2 cents more than one week ago, 9 cents higher than one month ago and $1.213 greater than one year ago. It has risen $1.063 since the start of the year, including 68.1 cents during a run of 72 increases in 73 days that ended March 20.
“July 4th travelers will be paying the highest state average price for regular since the 2014 holiday weekend,” said Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.
“Very strong demand and higher oil prices internationally continue to be the key drivers of higher prices.”
Source: NBC Los Angeles
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