(dailynews.com) The average price of a gallon of self-serve regular gasoline in Los Angeles County rose 5.8 cents today to $2.497, the second consecutive sharp increase after prices dropped 49 times in 50 days.
The average price rose 7.8 cents on Friday, the largest daily increase since July 14, and is 8 cents higher than one week ago, according to figures from the AAA and Oil Price Information Service.
However, it is 30 cents less than a month ago and 89.9 cents lower than this time last year thanks to dropping 71.4 cents during the stretch of 49 decreases in 50 days.
The Orange County average price rose 4.5 cents to $2.481, one day after a 9-cent increase that was also the largest daily increase since July 14 and likewise ended a run of 49 decreases in 50 days.
The Orange County average price is 7.6 cents higher than one week ago, but 29 cents less than a month ago and 90.6 cents lower than this time last year. It dropped 72.3 cents during the stretch of 49 decreases in 50 days.
The increases at the pump follow Wednesday’s 51-cent per gallon increase to the Los Angeles wholesale price which was mainly the result of “futures investments for March gasoline” and problems by refineries in producing the summer blend of gasoline, according to Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.
Regulations require most Southern California gas stations to switch to selling summer blend fuel by April 1. The summer blend gasoline reduces air pollution in warmer temperatures and is more expensive to produce.