The average prices of a gallon of self-serve regular gasoline in Los Angeles and Orange counties were at record highs for Labor Day Monday thanks to increases throughout the year.
The Los Angeles County average price of $4.406 broke the previous Labor Day record of $4.173 set in 2012, while the Orange County average price of $4.367 erased the previous record of $4.155, also set in 2012, according to figures from the AAA and Oil Price Information Service.
The Los Angeles County average price has risen $1.172 since the start of the year, and the Orange County average price $1.156 because of higher oil prices and increased demand prompted by the relaxation of restrictions intended to reduce the spread of the coronavirus.
The Los Angeles County average price rose two-tenths of a cent Monday, one day after remaining unchanged. It is two-tenths of a cent more than one week ago, 2.5 cents higher than one month ago and $1.179 greater than one year ago.
The Orange County average price dropped four-tenths of a cent Monday, one day after rising four-tenths of a cent. It is unchanged from one week ago, 1.8 cents more than one month ago and $1.163 higher than one year ago.
The all-time records are $4.705 for Los Angeles County, set on Oct. 9, 2012, and $4.69 for Orange County, set on Oct. 8, 2012, caused by wholesale markets going “into a panic about the adequacy of California fuel supplies,” following a power failure at the ExxonMobil Torrance Refinery and closure of a Chevron pipeline that moves crude oil to Northern California, Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager, said at the time.
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