Gas Prices Continue To Rise, Highest Since 2012
LOS ANGELES (CBSLA) — A gallon of self-serve regular gasoline in Los Angeles County increased 1.3 cents to $4.464, the highest in nearly a decade.
"The last time that prices were this high, it was in response to a shortage of summer blend gasoline and the governor (Jerry Brown) stepped in to allow early sales of winter blend to alleviate the crisis," said Automobile Club of Southern California spokesperson Jeffrey Spring.
"This year, there is not a shortage crisis, and the high prices are due to a combination of higher oil prices, inflationary pressures which add to higher overhead costs for gas stations, carbon costs for refineries and higher taxes."
According to AAA and the Oil Price Information Service, gas prices are at their highest since Oct. 22, 2012. Prices have
steadily increased with a gallon of gas increasing $1.273 since last year. Recently, prices are 2.9 cents higher than a week ago and 6.3 cents greater than a month ago.
Orange County followed the same trend reporting new highs since Oct. 2012. The average price rose 2 cents to $4.433 — an increase of 2.9 cents since last week, 7.5 cents since last month and $1.277 since last year.
(© Copyright 2020 CBS Broadcasting Inc. All Rights Reserved. City News Service contributed to this report.)