The average price for a gallon of self-serve regular gasoline in Los Angeles County rose 1.9 cents on Saturday to $ 4.657, within 4.8 cents of its all-time high.
Average price has risen six of the last seven days, up 6.8 cents, including 1.4 cents on Friday, according to figures from the AAA and Oil Price Information Service. It’s 21.2 cents more than a month ago and $ 1.50 higher than a year ago.
The record high in Los Angeles County is $ 4.705 and was set on October 9, 2012.
Orange County’s average price also rose for the sixth time in seven days, up 2.2 cents to $ 4.627, 6.3 cents less than the record high of $ 4.69 on October 8, 2012. It is up 8.5 cents in the past seven days, including 1.4 cents Friday.
Orange County’s average price is 21.8 cents more than a month ago and $ 1.50 more than a year ago.
According to Jeffrey Spring, director of corporate communications for the Southern California Auto Club, the week-to-week gains are the largest since mid-March.
“Our sources tell us that some refineries in Southern California have had unplanned maintenance in the past few days that typically reduce production levels,” Spring told City News Service.
The other factor is the persistently high oil price. The price of a barrel of West Texas crude oil on the New York Mercantile Exchange was $ 80.79 on Friday, 101.3% more than its 52-week low of $ 40.13 posted on November 13, 2020 due to the higher demand for the elimination of restrictions related to the coronavirus has been achieved.
According to the US Energy Information Administration, the cost of crude oil is just over half the price of a pump.