Gas Prices in Southland Rise Again
Posted: Saturday, February 28, 2015 – 3:07 PM
(CNS) – The average price of a gallon of self-serve regular gasoline in Los Angeles County rose today for the 29th consecutive day, increasing 7.7 cents to $3.473, its highest amount since Oct. 23.
The average price has increased 98.4 cents during the streak, including 12.1 cents on Friday, the largest daily increase since Oct. 6, 2012, according to figures from the AAA and Oil Price Information Service.
The average price is 48.8 cents more than one week ago and $1.013 higher than one month ago, but 43.7 cents less than one year ago thanks to 24 decreases in the 25 days immediately before the current string of increases began.
The 29-day streak of increases is the longest since a 30-day streak from Jan. 25-Feb. 23, 2013.
The Orange County average price also rose for the 29th consecutive day, increasing 7.4 cents to $3.461, its highest amount since Oct. 22.
The Orange County average price has increased $1.029 during the streak, including 14.7 cents on Friday, the largest daily increase since Oct. 5, 2012.
The Orange County average price is 48.1 cents higher than one week ago and $1.027 more than one month ago.
However, it is 45 cents lower than one year ago thanks to 23 decreases in 24 days immediately before the current string of increases began.
The 29-day streak of increases is the longest since one lasting 32 days from Feb. 6-March 9 last year.
The prices traditionally rise during the first three months of the year in what is dubbed the “first-quarter climb,” caused by reduced supply triggered by the maintenance cycle during the switch in production to summer blend gasoline, Allison Mac, an analyst with GasBuddy.com, a website tracking gasoline prices, told CBS.
The California supply has been further reduced this year by outages at several refineries and a strike by United Steelworkers, according to Mac.