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Southland Gasoline Prices Continue Increase
By Sentinel News Service
Published August 6, 2009

CNS–The average price of a gallon of self-serve regular gasoline in Los Angeles County rose 1.4 cents today, marking the seventh consecutive daily increase of at least 1 cent.

The average price of $2.928 is 8.7 cents more than a week ago, but 3.7 cents less than a month ago and $1.293 lower than a year ago, according to figures from the AAA and Oil Price Information Service.

The seven-day streak of increases of at least 1 cent is the longest since an 11-day streak from May 28-June 7.

The Orange County average price rose 2.2 cents today, the sixth consecutive daily increase of at least 1 cent.

The average price of $2.929 is 8.8 cents more than a week ago, but 2.3 cents less than a month ago and $1.242 less than a year ago.

The six-day streak of increases of at least 1 cent is the longest since an 11-day streak from May 28-June 7.

There is no specific reason for the increasing prices, according to Marie Montgomery of the Automobile Club of Southern California.

“There are continued sort-of-high oil prices, the stock market is doing really well, there could be some external economic things going on, but it is not clear that it has anything to do with supply and demand,” Montgomery told City News Service.

“The supply is great and the demand hasn’t jumped appreciably,” she said.

Categories: Local

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