The average price of a gallon of self-serve regular gasoline in Los Angeles County Thursday set a record for the 13th consecutive day, rising 1 cent to $6.424, extending its streak of increases to 15 consecutive days.
The average price risen 33.3 cents over the past 15 days, including 1.9 cents Wednesday, according to figures from the AAA and the Oil Price Information Service. It is 20.3 cents more than one week ago, 53.9 cents higher than one month ago and $2.179 greater than one year ago.
The Los Angeles County average price has increased $1.628 since Russia’s invasion of Ukraine on Feb. 24 “sent shock waves through the oil market that have kept oil costs elevated,” said Andrew Gross, an AAA national public relations manager. The Orange County average price has increased $1.612.
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.
The national average price rose 1.5 cents to $4.97, its 13th consecutive record and 17th in 18 days. It has increased 37.7 cents over the past 18 days, including 3.6 cents Wednesday.