Gas prices

Average Gas Price Rises in LA County for a 16th Straight Day

The average gas price in Los Angeles County has increased 13.1 cents over the past 16 days, including seven-tenths of a cent Tuesday.

Mike Blake | Reuters

The average price of a gallon of self-serve regular gasoline in Los Angeles County rose Wednesday for the 16th consecutive day, increasing three-tenths of a cent to $4.568, its highest amount since Oct. 18, 2012.

The average price has increased 13.1 cents over the past 16 days, including seven-tenths of a cent Tuesday, according to figures from the AAA and Oil Price Information Service. It is 4.3 cents more than one week ago, 15.8 cents higher than one month ago and $1.394 greater than one year ago.

The Orange County average price rose for the 15th time in 16 days, increasing four-tenths of a cent to $4.531, its highest amount since Oct. 18, 2012. It is 3.2 cents more than one week ago, 16.9 cents higher than one month ago and $1.394 greater than one year ago.

The Orange County average price has increased 12.7 cents over the past 16 days, including nine-tenths of a cent Tuesday.

Gas prices vary widely from state to state. The average gas price in the U.S. was $3.378 per gallon as of Oct. 21, according to data from GasBuddy.

Oklahoma had the lowest average gas price at $2.982 per gallon, GasBuddy data shows. And, you guessed it -- gas prices are highest in California, at an average of $4.531 per gallon.

The rising gas prices are caused by high crude oil prices. The price of a barrel of West Texas intermediate crude for December delivery on the New York Mercantile Exchange rose 89 cents Tuesday to its highest settlement value since Oct. 13, 2014, $84.65.

The crude oil price has increased 136.52% from its 52-week low of $35.79 on Oct. 30, 2020, because of higher demand following the elimination of coronavirus-related restrictions.

Crude oil costs account for slightly more than half of the pump price, according to the U.S. Energy Information Administration.

NBCLA's Jonathan Lloyd contributed to this report.

Copyright CNS - City News Service
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