Business & Tech

Southland Gasoline Prices Rise For Eighth Straight Day

It's your price at the pump heading into the weekend of July 20-22; use our handy Patch tool to find your lowest gas prices in the neighborhood.

The average price of a gallon of self-serve regular gasoline in Los Angeles County rose today for the eighth consecutive day, increasing 1 cent to $3.777.

The average price has increased 8.5 cents over the past eight days, including 1.1 cents on Thursday, according to figures from the AAA and Oil Price Information Service. It is 7.9 cents more than one week ago, but 17.4 less than one month ago and 4.3 cents lower than one year ago.

The Orange County average price also rose today for the eighth consecutive day, increasing eight-tenths of a cent to $3.748, 9.4 cents more than one week ago, but 15.7 cents less than one month ago and 5.7 cents lower than one year ago.

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The Orange County average price has increased 10.5 cents over the past eight days, including 1.3 cents on Thursday.

The rising pump prices are the result of higher crude oil prices, according to Jeffrey Spring of the Automobile Club of Southern California.

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"Other parts of the country have been experiencing price increases for a few weeks in response to higher oil prices, and Southern California gas prices are now starting to reflect those increased costs," Spring said. "Local drivers briefly saw some of the lowest prices of the year last week, but prices are now rising by a penny a day or more in many cities."

The rise in crude oil prices have been attributed in part to Middle East tensions.

The price of a barrel of benchmark West Texas Intermediate crude on the New York Mercantile Exchange, which was at an eight-month low of $77.69 on June 28, rose Thursday for the seventh consecutive day, increasing $2.79 to $92.66 -- its highest settlement price since mid-May. The seven-day streak of increases is the longest since Feb. 24.

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


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