The average price of a gallon of self-serve regular gasoline in Los Angeles County rose Friday by more than 3 cents for the third consecutive day, increasing 3.4 cents to $2.60.
The average price rose 3.9 cents on Thursday, its largest daily increase April 12, and 3.3 cents on Wednesday, according to figures from the AAA and Oil Price Information Service.
The average price has risen eight of the past nine days and is 14.1 cents more than one week ago. However, it is 8.2 cents less than one month ago and $1.032 lower than one year ago thanks to a 23-day streak of decreases immediately before the current string of increases began.
The Orange County average price also rose by more than 3 cents for the third consecutive day, increasing 3.6 cents to $2.589. It rose 4.3 cents on Thursday, its largest daily increase since April 12, and 3.7 cents on Wednesday.
The Orange County average price has risen seven consecutive days and is 15.7 cents higher than one week ago. It is 6.8 cents less than one month ago and $1.037 lower than one year ago thanks to 23 decreases in 24 days immediately before the current string of increases began.
The rising pump prices are caused by a sharp increase in the wholesale price “likely on news of a strike at the Tesoro refinery in Carson,” said Jeffrey Spring, the corporate communications manager of the Automobile Club of Southern California.
“At current levels, the margin between wholesale and retail prices is closer than it’s been for several months, meaning that prices are likely to rise more in the near future.”