LA Gas Prices Surge to Record Highs Amid Crude Oil Volatility
The average price of gasoline in Los Angeles County has approached its record high after a 5.1 cent increase to $6.387 per gallon, according to figures from AAA and Oil Price Information Service.
This marks the 39th consecutive day that prices have risen, with an overall increase of 74.5 cents since September 21. The current price is also 20.3 cents more than one week ago and $1.665 greater than one year ago.
The national average price has dropped by four-tenths of a cent to $4.487 after back-to-back increases totaling 1.7 cents. However, the Los Angeles County average price has risen significantly over the past week, increasing by 2.9 cents per day on average.
Patrick De Haan, head of petroleum analysis at GasBuddy, notes that 'typically, the start of autumn brings lower gas prices, but lingering volatility in the Strait of Hormuz and the high cost of crude oil are driving up pump prices.'