The average price of a gallon of self-serve regular gasoline in Los Angeles County rose Tuesday for the 27th time in 30 days, increasing 1.2 cents to $4.898, its 23rd record in 26 days.
The average price has risen 22.9 cents over the past 30 days, including seven-tenths of a cent Monday, according to figures from the AAA and Oil Price Information Service. It is 11.1 cents more than one week ago, 22.4 cents higher than one month ago and $1.15 greater than one year ago.
The Orange County average price rose 1.5 cents to $4.87, its 22nd record in 27 days. It has increased 17 of the past 19 days, rising 14.8 cents, including one-tenth of a cent Monday.
The Orange County average price is 10.5 cents more than one week ago, 21.5 cents higher than one month ago and $1.138 greater than one year ago.
“Russia’s invasion and the responding escalating series of financial sanctions by the U.S. and its allies have given the global oil market the jitters,” said Andrew Gross, an AAA national public relations manager.
“Like the U.S. stock market, the oil market responds poorly to volatility. It’s an explosive situation, and a grim reminder that events on the far side of the globe can have a ripple effect for American consumers.”