The average price of a gallon of self-serve regular gasoline in Los Angeles County recorded its largest daily increase since April 12 on Thursday, rising 3.9 cents to $2.566, one day after a 3.3-cent increase.
However, it is 11.8 cents less than one month ago and $1.063 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 recorded its largest daily increase since April 12 on Thursday, rising 4.3 cents to $2.553, one day after a 3.7-cent increase. It has risen six consecutive days and is 12 cents more than one week ago.
However, it is 10.4 cents less than one month ago and $1.068 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 an approximately 50-cent per gallon increase in the wholesale price since hitting a six-year low on Jan. 15, according to Marie Montgomery of the Automobile Club of Southern California.
The rising wholesale price stems from lower anticipated production as refiners begin the process of converting to producing summer blend gasoline and because of a strike at the Tesoro refinery in Carson, Montgomery said.
The Tesoro refinery “is still operational because they have brought in replacement workers, so if it becomes clear that production has not been affected, prices could settle back down or plateau,” Montgomery told City News Service.
—Staff and wire reports