Record average price of $6.09 per gallon for self-service regular gasoline in Los Angeles County
Photo: FREDERIC J. BROWN/AFP/Getty Images
A gallon of self-service regular gasoline is sold this Wednesday at a record average price of $6.09 dollars in Los Angeles Countyup 2.3 cents to $6,089.
For 21 consecutive days, the average price of fuel has had increases for a total of 31.5 centsincluding Tuesday’s 3.7 cents, according to data from the American Automobile Association (AAA) and the Oil Price Information Service.
Regular gasoline is 19.8 cents more expensive than a week ago, 28.5 cents higher than a month ago and $1,914 more expensive than a year ago.
The previous record had been $6.07 dollarswhich was recorded on March 28.
Related: Price of a gallon of regular gasoline exceeded $6 dollars in Los Angeles County for the first time since April 1
In Orange County, the average price of regular gasoline set a record for the second day in a row with an increase of 2.4 cents to settle at $6,073.
Gasoline has seen increases in 20 of the last 21 days, for a total increase of 36.2 cents, including the 3.6 cents it registered on Tuesday.
Median price in Orange County is 23.7 cents higher than a week ago, 31.1 cents higher than a month ago, and $1,941 dollars higher than a year ago.
Nationally, the average price of fuel rose 4.4 cents, to reach $4,567, a figure that surpassed the previous record set on Tuesday.
The increase in average gasoline prices to the public is the result of the high cost of oilaccording to AAA’s national public relations manager, Andrew Gross.
The price of a barrel of July Brent oil on ICE Futures Europe fell $2.31 on Tuesday to settle at $111.93.after reaching its highest intraday price since March 28.
Brent crude is the world benchmark for oil and represents approximately 80% of the world’s crude oil.
Oil costs represent a little more than half the price of gasolineaccording to the US Energy Information Administration.
The remainder of the price includes the other components of gasoline, production costs, distribution costs, overhead costs for everyone involved in production, distribution and sales, taxes and California carbon offset fees paid by refiners.
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