A 21-day streak of increases that pushed the average price of a gallon of self-serve regular gasoline in Los Angeles County to its highest amount since July 21, 2015, ended Tuesday with a decrease of one-tenth of a cent to $4.257.
The average price rose 58.6 cents during the streak, including two-tenths of a cent Monday, according to figures from the AAA and Oil Price Information Service. It is 10.7 cents higher than one week ago, 57.7 cents more than one month ago and 37.5 cents greater than one year ago. It has risen 86.6 cents since the start of the year.
The Orange County average price rose two-tenths of a cent Tuesday to $4.177 after dropping one-tenth of a cent both of the last two days following a 12-day streak of increases totaling 46.9 cents that pushed it to its highest amount since July 21, 2015.
The Orange County average price is 9.9 cents more than one week ago, 57.3 cents higher than one month ago and 38.8 cents greater than one year ago. It has risen 87.4 cents since the start of the year.
Gas prices began increasing rapidly last month after Saudi Arabia oil production facilities were attacked, and the increases sharpened after three Los Angeles-area refineries slowed or halted production due to maintenance issues and no imported gasoline was available to make up for the shortfall, according to Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.
Local refineries had already cut back production of summer blend gasoline in anticipation of switching to selling the winter blend beginning Nov. 1, creating even more of a shortage.
>> Want to read more stories like this? Get our Free Daily Newsletters Here!Follow us: