City News Service
LOS ANGELES (CNS) — The average price of a gallon of self-serve regular gasoline in Los Angeles County rose 5.9 cents Saturday to a record high of $5.966, its 25th consecutive increase.
The average price has increased $1.179 during the streak, including 1.8 cents Friday, setting a record each day, according to figures from the AAA and Oil Price Information Service. It is 15.2 cents more than one week ago, $1.182 higher than one month ago and $2.044 greater than one year ago.
The Orange County average price is 13.3 cents more than one week ago, $1.162 higher than one month ago and $2.017 greater than one year ago.
The larger increases are the result of rebounding crude oil prices caused by a lack of commitment from OPEC to raise production levels despite requests by the United States and United Kingdom, as well as a supply issue stemming from the Torrance PBF refinery having issues restarting a key unit that went offline after a March 6 power outage, according to Marie Montgomery, a public relations specialist with the Automobile Club of Southern California.