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Gas Prices Increase for First Time in Months

The average price of a gallon of gas in Los Angeles County recorded its largest daily increase since Oct. 7.

The average price of a gallon of self-serve regular gasoline in Los Angeles County recorded its largest daily increase since Oct. 7 today, rising 1.8 cents to $3.729, one day after a 1.7-cent increase.

The average price is 5.3 cents more than one week ago and 10.1 cents higher than one month ago but one-tenth of a cent less than one year ago, according to figures from the AAA and Oil Price Information Service.

The average price has increased 20 of the past 21 days, rising 14.4 cents over that span.

The Orange County average price rose 1.4 cents to $3.706, one day after its largest daily increase since Oct. 7, 2 cents. It is 4.8 cents more than one week ago and 11.5 cents higher than one month ago but 1.6 cents less than one year ago.

The Orange County average price has risen 22 times in the past 26 days, increasing 15.1 cents over that span.

The sharp increases since Wednesday are the result of crucial equipment at the BP refinery in Carson being de-activated for unplanned maintenance and the catalytic cracker at the Chevron refinery in El Segundo being shut down as well, cutting supplies, according to industry analyst Bob van der Valk. Catalytic cracking is a critical step in turning petroleum into gasoline.

 

Chris Evans January 18, 2013 at 03:56 PM
Why is it that with ridiculously high fuel prices, the big oil companies continue to reap record profits, while at the same time say they have no control over prices? There's a word for that.. what is it? Oh, yeah .. theft

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