Gas Prices in LA and Orange Counties Post Highest Daily Increase since October

The current gasoline price average of self-serve regular gas in the County of Los Angeles posted its highest daily rise since the 7th of October with a 1.8-cent increase to $3.729 per gallon. The rise comes after an increase of 1.7 cents during the previous day.

The rise led to an average gasoline price today that is higher by 5.3 cents and 10.1 cents compared to its level during the same period last week and last month, respectively. However, it is still lower by one-tenth of a penny versus the previous year. These comparisons are based on the figures of the Oil Price Information Service and AAA.

The average gasoline price has gained a total of 14.4 cents in the last 21 days, after increasing for 20 days within that span of time.

Orange County also recorded a similar rise of 1.4 cents to its present gasoline price average of $3.706 per gallon. The rise occurred following the previous day’s 2-cent increase, its biggest daily gain since the 7th of October.

That brings the current gasoline price in the area higher by 4.8 cents versus last week and greater by 11.5 cents compared to last month. However, it is still lower by 1.6 cents compared to the past year.

The average gasoline price in the Orange County has increased in 22 of the last 26 days marking an overall rise of 15.1 cents within that period.

The sharp rises in recent days are caused by the de-activation of important equipment at BP’s Carson refinery for unplanned repairs, as well as the shutting down of the catalytic cracker in Chevron’s El Segundo refinery, all ┬áleading to supply reductions, according to industry analysts. Catalytic cracking is an important step in producing gasoline from petroleum.

By: Chris Termeer