A stretch of 20 consecutive daily increases in the average price of a gallon of self-serve regular gasoline ended in Los Angeles County Friday when the average was unchanged, remaining at $4.115.
The average price had risen 34 of the previous 35 days, increasing 42.3 cents over that span to its highest amount since June 11, according to figures from the AAA and Oil Price Information Service.
The average price is 10.2 cents more than one week ago, 37.6 cents higher than one month ago and 40.5 cents greater than one year ago.
The Orange County average price rose today for the 20th consecutive day and 34th time in 36 days, increasing three-tenths of a cent to $4.097, its highest amount since June 9. It is 9.7 cents more than one week ago, 39.4 cents higher than one month ago and 40.3 cents greater than one year ago.
The Orange County average price has increased 45.4 cents over the past 36 days, including one-tenth of a cent on Thursday.
Gasoline prices increased sharply following a fire at the Chevron refinery in Richmond Aug. 6. Wholesale gasoline prices began rising the following day, reflecting fears of reduced supplies.
"With the refinery still partially open, it appears that wholesale gasoline buyers feel that for now, they have captured most of the cost increase that will result from the fire," said Jeffrey Spring of the Automobile Club of Southern California.
Analysts attributed the increases before the refinery fire to rising crude oil prices, which in part reflected increasing Middle East tensions.
Crude oil costs account for two-thirds to three-quarters of the price of a gallon of gasoline, said Tupper Hull of the Western States Petroleum Association, a trade association representing oil companies in six western states.
WHERE ARE THE LOWEST GAS PRICES IN CERRITOS AND ARTESIA?
Cerritos and Artesia residents can visit the Patch Traffic and Gas page by clicking here, to find the lowest prices at the pump in our neighborhood.
- City News Service
