The average price of a gallon of self-serve regular gasoline in Los Angeles County rose three-tenths of a cent Friday to $4.75, its seventh record high in eight days.
The Los Angeles County average price has risen 11 of the past 12 days, increasing 8.2 cents, including one-tenth of a cent both Wednesday and Thursday, according to figures from the AAA and Oil Price Information Service. It rose seven consecutive days, dropped one-tenth of a cent Monday, then resumed increasing Tuesday.
The average price is 2.9 cents more than one week ago, 7.5 cents higher than one month ago and $1.212 greater than one year ago.
The Orange County average price rose two-tenths of a cent to $4.724, one day after dropping six-tenths of a cent from the record high of $4.728 set Wednesday, its sixth record in seven days.
The Orange County average price is 1.8 cents more than one week ago, 7.8 cents higher than one month ago and $1.205 greater than one year ago.
“There is some indication that price increases may be leveling off for now after prices reached record levels,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications and programs manager. “Tom Kloza of Oil Price Information Service says the two major factors driving gas prices are higher oil prices and inflation.”
The price of a barrel of West Texas intermediate crude on the New York Mercantile Exchange has risen $14.67 since New Year’s Day to $89.88, the fourth-highest settlement value in 2022.