The average price of a gallon of self-serve regular gasoline in Los Angeles County Monday set a record for the 10th consecutive day, rising 1.5 cents to $6.366, extending its streak of increases to 12 consecutive days.
The average price risen 27.5 cents over the past 12 days, including 3 cents Sunday, according to figures from the AAA and the Oil Price Information Service. It is 20.4 cents more than one week ago, 51.4 cents higher than one month ago and $2.125 greater than one year ago.
In Pasadena, GasBuddy.com said Sunday the cheapest price it found was regular for $5.89 at Speedway Express in Pasadena at 2800 E. Foothill Blvd. Speedway was charging $6.09 for midgrade and $6.19 for premium.
The ARCO at 1010 E Washington Blvd. was selling regular for $5.95, midgrade for $6.15, premium for $6.25 and diesel for $7.09, according to GasBuddy.com
The Ralphs station in Pasadena at 911 E. Washington Blvd. was holding the line at $5.99 for regular, $6.29 for midgrade and $6.39 for premium.
The Los Angeles County average price has increased $1.57 since Russia’s invasion of Ukraine on Feb. 24 “sent shock waves through the oil market that have kept oil costs elevated,” said Andrew Gross, an AAA national public relations manager. The Orange County average price has increased $1.564.
Crude oil costs account for slightly more than half of the pump price, according to the U.S. Energy Information Administration. The rest of the price includes the other components of gasoline, production costs, distribution costs, overhead costs for all involved in production, distribution and sales, taxes and carbon offset fees in California paid by the refineries.
The national average price rose 1.7 cents to a record $4.865.
“Supply and demand dynamics have contributed to rising pump prices,” Gross said. “Coupled with volatile crude oil prices, pump prices will likely remain elevated as long as demand grows and supply remains tight.”