The average price of a gallon of self-serve regular gasoline in Los Angeles County rose Thursday for the 17th consecutive day, increasing three-tenths of a cent to $4.571, its highest amount since Oct. 18, 2012.
The average price has increased 13.4 cents over the past 17 days, including three-tenths of a cent Wednesday, according to figures from the AAA and Oil Price Information Service. It is 3.6 cents more than one week ago, 16.2 cents higher than one month ago and $1.396 greater than one year ago.
The Orange County average price rose for the 16th time in 17 days, increasing three-tenths of a cent to $4.534, its highest amount since Oct. 18, 2012. It is 3 cents more than one week ago, 16.6 cents higher than one month ago and $1.401 greater than one year ago.
The Orange County average price has increased 13 cents over the past 17 days, including four-tenths of a cent Wednesday.
The rising gas prices are caused by high crude oil prices. Despite dropping $1.99 to $82.66 Wednesday, the price of a barrel of West Texas intermediate crude on the New York Mercantile Exchange has increased 130.96% from its 52-week low of $35.79 on Oct. 30, 2020, because of higher demand following the elimination of coronavirus-related restrictions.
Wednesday settlement value was the sixth highest in 2021.
Crude oil costs account for slightly more than half of the pump price, according to the U.S. Energy Information Administration.