Business & Tech
More Pain at the Pump: Soaring Gas Price Is Highest Since May
Analysts have cited the closure of some California refineries for maintenance among reasons for the rising prices.
The average price of a gallon of self-serve regular gasoline in Los Angeles County rose today to its highest amount since May 27, increasing 1.2 cents to $4.082.
The average price has increased 15 consecutive days and 27 times in 28 days and is 19.4 cents more than one week ago, 34.3 cents higher than a month ago and 51.6 cents greater than a year ago, according to figures from the AAA and Oil Price Information Service.
The average price has spiked 33.8 cents over the past 28 days, including 1 cent on Monday.
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The Orange County average price rose to its highest amount since May 25, increasing 1.2 cents to $4.071.
- Click the Gas & Traffic tab at the top of this page for the latest gasoline prices in Calabasas.
The Orange County average price is 19.5 cents more than one week ago, 34.1 cents higher than a month ago and 51.8 cents greater than a year ago. It has increased 31 of the past 33 days, rising 35.3 cents during that span, including 1.3 cents on Monday.
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Analysts have cited increasing oil prices and the closure of some California refineries for maintenance as reasons for the rising prices.
Crude oil costs account for two-thirds to three-quarters of the price of a gallon of gasoline, according to Tupper Hull of the Western States Petroleum Association, a trade association representing oil companies in six western states.
-- City News Service