LA Gas Prices Jump Again by 13 Cents – Los Angeles

Another day, another spike in fuel prices

The average price of a gallon of self-serve regular gasoline in Los Angeles County rose 13.3 cents overnight into Thursday for the second consecutive day. It is now at its second highest increase since July 14, 2015

Los Angeles: At least one station’s sign advertised prices higher than $7 per gallon in downtown Los Angeles. In several places, premium has surpassed that mark.

The average price of oil has increased for 16 consecutive days. It rose 99.7c to $5.784. This is the 32nd record in 34 Days, according to the AAA/Oil Price Information Service.


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A downtown Los Angeles gas station posted prices for gasoline at more than.00 per gallons on March 9, 2022.

Average prices are 77cs higher than one week ago, $1.037 more than one month ago, and $1.947 more than one year ago.

Orange County’s average price rose 11.3 Cents to $5.757. This is its 31st record in just 36 days. It has increased 99.7cs in 19 consecutive days, rising 13 cents on Wednesday. It is 76.7cs higher than one week ago, $1.035 more than one month ago, and $1.929 less than one year ago.

In Riverside County, the average price of a gallon of self-serve regular gasoline in
is up 11 cents to $5.65. That’s the 21st consecutive record in 22 days.

The AAA stated that Americans can expect the current trend of pumping to continue, as long as crude oil prices rise.

Last week, U.S. gasoline storage decreased as summer nears. As the conflict in Ukraine escalates, the rise in gasoline demand and decreasing inventories is driving up prices at the pump. However, skyrocketing oil prices play an increasing role in rising prices.

The benchmark U.S. crude oil prices rose by 8% Tuesday, to $129 per barrel.

Rising gas prices come as President Joe Biden has decided to ban Russian oil imports, toughening the toll on Russia’s economy in retaliation for its invasion of Ukraine.

The U.S. imports about 100,000 barrels a day from Russia, only about 5% of Russia’s crude oil exports, according to Rystad Energy. Around 8% of U.S. petroleum products and oil imports were from Russia in the last year.

Curbs on Russian oil exports will likely send already soaring oil and gasoline prices higher in both the U.S. and Europe and further squeeze consumers, businesses, financial markets and the global economy.

Energy analysts warn that crude crude oil prices could soar to $160 to $200 per barrel due to sanctions imposed on the West and if Russian crude continues to be shopped out.

These high oil prices could see an average gallon U.S.-produced gasoline go beyond $5 per gallon.

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