July 16, 2024 The Best Source of News, Culture, Lifestyle for Culver City, Mar Vista, Del Rey, Palms and West Los Angeles

LA County Suffers Largest Increase in Gas Prices Since November 3

The average price of a gallon of self-serve regular gasoline in Los Angeles County rose six-tenths of a cent Friday to $2.716, the largest increase since Nov. 3.

The average price had decreased 24 of the previous 27 days and was unchanged twice, dropping to its lowest amount since Aug. 26, according to figures from the AAA and Oil Price Information Service.

The average price is 2.1 cents less than one week ago, 17.6 cents lower than one month ago and 6.7 cents below what it was one year ago.

The Orange County average price rose eight-tenths of a cent to $2.698, the largest increase since Nov. 3. The average price had dropped 26 of the previous 27 days, decreasing 20 cents to its lowest amount since Aug. 26.

The Orange County average price is 1.9 cents less than one week ago, 18.2 cents lower than one month ago and 5.7 cents below what it was one year ago.

“The big news for gas prices this week was OPEC announcing a cutback in oil production, which may have been why Los Angeles wholesale and rack prices rose on Wednesday,” said Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.

“However, wholesale prices remain below where they were a month ago and there appears to be room for prices at the pump to drop a little more.”

 

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