The average price of a gallon of self-serve regular gasoline in Los Angeles County inched up one-tenth of a percent Monday, March 28, to $6.07, authorities said.
The average price is 8.2 cents more than one week ago, $1.184 more than one month ago and $2.123 greater than one year ago, according to figures from the AAA and Oil Price Information Service.
The Orange County average price rose three-tenths of a cent to $6.027, one day after dropping by the same amount to end a streak of 35 consecutive increases. The Orange County average price is 8 cents more than one week ago, $1.172 higher than one month ago and $2.103 greater than one year ago.
Friday’s missile attack on an oil distribution facility in Saudi Arabia caused another set of increases to the price of a barrel of Brent crude on ICE Futures Europe, which could mean further increases to pump prices.
The price gained $12.72 per barrel last week, settling at $120.65 on Friday, March 25, $7.33 less than its 52-week high of $127.98 on March 8.
Crude oil costs account for slightly more than half of the pump price, according to the U.S. Energy Information Administration. The rest of the price includes the other components of gasoline, production costs, distribution costs, overhead costs for all involved in production, distribution and sales, taxes and carbon offset fees in California paid by the refineries.