February 25, 2024 Breaking News, Latest News, and Videos

Southland Gasoline Prices Record Largest Daily Increase Since October 2012:

The average price of a gallon of self-serve regular gasoline in Los Angeles County recorded its largest daily increase since Oct. 6, 2012, today, rising 8 cents to $3.245, its highest amount since Nov. 10.

The average price has increased 27 consecutive days, rising 78.6 cents, including 6.1 cents on Wednesday, according to figures from the AAA and Oil Price Information Service.

The average price is 34.4 cents more than one week ago and 77.5 cents higher than one month ago, but 64 cents less than one year ago thanks to 24 decreases in the 25 days immediately before the current string of increases began.

The 27-day streak of increases is the longest since a 30-day streak from Jan. 25-Feb. 23, 2013.

The Orange County average price also recorded its largest daily increase since Oct. 6, 2012, rising 8 cents today to $3.24, its highest amount since Nov. 6. It has also increased 27 consecutive days, rising 80.8 cents, including 6 cents on Wednesday.

The Orange County average price is 34.9 cents higher than one week ago and 79.4 cents more than one month ago.

However, it is 64.2 cents lower than one year ago thanks to 23 decreases in 24 days immediately before the current string of increases began.

The 27-day streak of increases is the longest since one lasting 32 days from Feb. 6-March 9 last year.

The explosion Feb. 18 that caused a partial shutdown of the ExxonMobil refinery in Torrance put additional pressure on gasoline prices, whose supply had already been reduced by the process of converting to production of summer blend gasoline, according to Marie Montgomery of the Automobile Club of Southern California.

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