Gas Prices Rise Slightly

The average price of a gallon of self-serve regular gasoline in Los Angeles County rose Thursday for the third consecutive day following a 22-day streak of decreases, increasing four-tenths of a cent to $2.799.

The average price rose 1.2 cents on Thursday, its largest daily increase since Nov. 5, and one-tenth of a cent on Wednesday after dropping to its lowest amount since Feb. 12, according to figures from the AAA and Oil Price Information Service.

The average price is three-tenths of a cent more than one week ago, but 13.9 cents less than one month ago and 27.1 cents lower than one year ago, mainly thanks to dropping 16.4 cents during the 22-day streak of decreases.

The Orange County average price rose for the third consecutive day following a 26-day streak of decreases, increasing three-tenths of a cent to $2.744.

The Orange County average price rose 1.6 cents on Thursday, its largest daily increase since Aug. 14, and a half-cent on Wednesday.

The Orange County average price is 1.5 cents more than one week ago, but 13.9 cents less than one month ago and 25.3 cents lower than one year ago, mainly thanks to dropping 17.5 cents during the 26-day streak of decreases.

“Analysts are pointing to increased demand as a reason for the pause in gas price drops, as well as an OPEC meeting (that began today) that could change oil production levels for OPEC countries,” said Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.

City News Service