Gas prices hit new all-time record in L.A. County. Could some relief be on the way? Details now on ABC7
The average price has risen 31 consecutive days, increasing $1.22, including 1 cent Sunday and 15.3 cents Thursday, the largest daily increase since the record 19.2-cent hike on Oct. 5, 2012, according to figures from the AAA and Oil Price Information Service.
The average price is 62.6 cents more than one week ago, $1.202 higher than one month ago and $2.05 greater than one year ago. The streak of increases follows a run of 78 decreases in 80 days totaling $1.216 that began June 15, one day after the average price rose to a record $6.462. The Orange County average price rose one-tenth of a cent to $6.423, one day after dropping seven-tenths of a cent. It rose 4.3 cents Saturday to a record $6.429, topping the previous high of $6.41 set June 12. Sunday's decrease ended a 12-day streak of increases totaling $1.033, including a 15.9-cent increase Thursday, the largest daily increase since the record 19.5-cent hike on Oct. 5, 2012. The Orange County average price is 59.2 cents more than one week ago, $1.23 higher than one month ago, and $2.044 greater than one year ago. The rising prices are the result of insufficient supply to meet demand caused in part by reduced production of gasoline from refineries undergoing maintenance, Marie Montgomery, a public relations specialist with the Automobile Club of Southern California, told City News Service.
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