LA gas prices hit record for 14th straight day – NBC Los Angeles

The average price of a gallon of regular self-service gasoline in Los Angeles County set a record for the 14th consecutive day today, rising 2.1 cents to $6,445, extending the streak of increases to 16 consecutive days.

The average price has risen by 35.4 cents in the past 16 days, of which 1 cent on Thursday, according to figures from the AAA and the Oil Price Information Service. It is 17.9 cents more than a week ago, 55.5 cents higher than a month ago and $2,198 more than a year ago.

Orange County’s average price set a record for the 14th consecutive day, rising 1.7 cents to $6,406, extending the streak of increases to 15 consecutive days. It is up 34.7 cents in the past 154 days, including six-tenths of a cent on Thursday.

Orange County’s average price is 16 cents more than a week ago, 57.2 cents higher than a month ago and $2,208 higher than a year ago.

The California statewide average on Friday is $6,420.

In Riverside County, the average price of a gallon of self-service gas also set a record for the 14th consecutive day, rising 1.6 cents to $6,299, extending the streak of increases to 15 consecutive days.

The average price has risen 32.3 cents in the past 15 days, of which 1.4 cents on Thursday, according to data from the AAA and the Oil Price Information Service. It is up 17.6 cents from a week ago, 49.5 cents up from a month ago and $2,127 more than a year ago.

The average price has increased by $1,584 since the Russian invasion of Ukraine on Feb. 24.

The trend is expected to continue, according to Doug Shupe, the Corporate Communications Manager for the Automobile Club of Southern California.

“Analysts predict significant increases in oil prices in the coming year as Russian oil exits Western markets,” Shupe said.

According to the US Energy Information Administration, the cost of crude oil accounts for just over half of the pump price. The remainder of the price includes the other components of gasoline, production costs, distribution costs, overheads to everyone involved in production, distribution and sales, taxes and California carbon offsets paid by the refineries.

The national average price rose 1.6 cents to $4,986, the 14th consecutive record and 18th in 19 days. It is up 39.3 cents in the past 19 days, including 1.5 cents on Thursday.

The national average is 22.5 cents more than a week ago, 61.2 cents higher than a month ago and $1,913 more than a year ago.

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