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Average LA, OC gas prices above $3 for first time since Dec.

February 23, 2015
(Korea Times file)

Will the gas prices go back up to these prices? (Korea Times file)

LOS ANGELES (CNS) – The average price of a gallon of self-serve regular gasoline in Los Angeles County rose 2.5 cents today to $3.067, one day after recording its largest daily increase since April 12, 5.7 cents and surpassing the $3 mark for the first time since Dec. 9.

The recent sharp increases follow the explosion that damaged the ExxonMobil refinery in Torrance Wednesday, causing a partial shutdown and reducing supplies.

The average price has increased 24 consecutive days, rising 60.8 cents,
according to figures from the AAA and Oil Price Information Service.

The average price is 20.9 cents more than one week ago and 57.9 cents higher than one month ago, but 79.2 cents less than one year ago thanks to 24 decreases in the 25 days immediately before the current string of increases began.

The 24-day streak of increases is the longest since a 30-day streak from Jan. 25-Feb. 23, 2013.

The Orange County average price rose 1.5 cents today to $3.059, one day after recording its largest daily increase since Feb. 1, 2013, 6.4 cents, to surpass the $3 mark for the first time since Dec. 5.

The Orange County average price has also risen 24 consecutive days, increasing 62.7 cents. It is 21.1 cents higher than one week ago and 60.2 cents more than one month ago.

However, it is 80 cents lower than one year ago thanks to 23 decreases in 24 days immediately before the current string of increases began.

The 24-day streak of increases is the longest since a 32-day streak from Feb. 6-March 9 last year.