The average price rose 12.8 cents Sunday, its second-largest increase since July 14, 2015, according to figures from the AAA and Oil Price Information Service.
The Los Angeles County average price has risen 34 times in 37 days, increasing 84.9 cents. It is 62 cents more than one week ago, 77.3 cents higher than one month ago and $1.705 greater than one year ago.
The Orange County average price rose 8.8 cents to $5.514, its 29th record in 34 days.
The Orange County average price has increased 24 of the past 26 days, rising 79.2 cents. The Orange County average price is 64.4 cents more than one week ago, 78.9 cents higher than one month ago and $1.708 greater than one year ago.
Oil industry analysts attribute the price spike to the possibility of a supply shortage because traders, shippers, insurance companies and banks are avoiding Russian oil transactions for fear of running afoul of Western sanctions.