15 Sep 2014
77° Clear
Patch Instagram photo by apennyforyourwraps
Patch Instagram photo by apennyforyourwraps
Patch Instagram photo by apennyforyourwraps
Patch Instagram photo by apennyforyourwraps
Patch Instagram photo by apennyforyourwraps
Patch Instagram photo by apennyforyourwraps
Patch Instagram photo by apennyforyourwraps

Gas Prices Set New Year's Day Records

Gas Prices Set New Year's Day Records

The average price of a gallon of self-serve regular gasoline in Los Angeles County rose a half-cent today to a record amount for New Year's Day, $3.694, erasing the previous record of $3.655, set in 2012.

Prices are typically lower in the winter than the summer, when a combination of higher demand and the requirement to sell the summer blend of gasoline, which is more expensive to produce, results in higher prices.

The all-time record is $4.705, set on Oct. 9, 2012.

The average price has increased for 11 consecutive days, rising 5.4 cents over that span, including eight-tenths of a cent on Tuesday, according to figures from the AAA and Oil Price Information Service. It is 4.3 cents more than one week ago, 7.7 cents higher than one month ago and 7.6 cents greater than one year ago.

The Orange County average price also rose to a New Year's Day record, increasing four-tenths of a cent to $3.681, erasing the previous record of $3.64 set in 2012. It is 4.9 cents more than one week ago, 8.6 cents higher than one month ago and 8.4 cents greater than one year ago.

The Orange County average price has risen 12 consecutive days, increasing 6.6 cents over that span, including eight-tenths of a cent on Tuesday.

--City News Service

Click here for today's top stories on Newport Beach-Corona Del Mar Patch.

Stay Patched in! Like Newport Beach Patch on Facebook. Follow us on Twitter and Sign up for the daily email with links to the latest local news.

Share This Article