LOS ANGELES (CNS) – The average price of a gallon of self-serve regular gasoline in Los Angeles County matched its smallest increase in an 18-day streak of price increases on Sunday, setting a record for the 16th consecutive day.
The average price rose two-tenths of a cent on Sunday to $6.46, matching the rise on the first day of the streak, May 26, according to figures from the AAA and the Oil Price Information Service. That’s 10.9 cents more than a week ago, 56.3 cents more than a month ago, and $2,214 more than a year ago.
The average price rose 36.9 cents over the past 18 days, including 1.3 cents on Saturday.
The Orange County average price rose two-tenths of a cent for the second straight day to $6.41, its 16th consecutive record high. It rose 17 consecutive days, rising 35.1 cents.
Orange County’s average price is 8 cents higher than a week ago, 56.8 cents higher than a month ago and $2,208 higher than a year ago.
Los Angeles County’s average price has risen $1.664 since Russia’s Feb. 24 invasion of Ukraine ‘sent shockwaves through the oil market that kept oil prices high’ , said Andrew Gross, national public relations manager for the AAA. Orange County’s average price increased by $1.633.
Crude oil costs are just over half the price at the pump, according to the US Energy Information Administration. The rest of the price includes the other gasoline components, production costs, distribution costs, overhead costs for everyone involved in production, distribution and sales, taxes and carbon offset costs in California paid by refineries.
The national average price rose six-tenths of a cent to $5.01, its 16th straight high and the 20th in the past 21 days. It is up 41.7 cents over the past 21 days, including 1.8 cents on Saturday.
The national average is 16.2 cents higher than a week ago, 59.2 cents higher than a month ago and $1,933 higher than a year ago.