Business & Tech
Gas Prices Reach Largest Daily Increase Since June 22
Lowest price in Malibu is around $3.99.
By City News Service
The average price of a gallon of self-serve regular gasoline in Los Angeles County recorded its largest daily increase since June 22 today, rising 2.6 cents to $3.994.
The average price has risen 13 times in 14 days, increasing 15.8 cents over that span, according to figures from the AAA and Oil Price Information Service.
The average price is 11.7 cents more than one week ago and 6.1 cents higher than one month ago but 18.2 cents less than one year ago.
The Orange County average price rose 2.6 cents today to $3.974. It has risen 14 times in the past 15 days and is 12.5 cents more than one week ago and 6.5 cents higher than one month ago.
However, it is 17.9 cents less than one year ago, mainly thanks to a 37- day streak of decreases that ended Aug. 27.
The rising pump prices are caused by increasing oil prices stemming from continued Middle East tension, according to Jeffrey Spring of the Automobile Club of Southern California.
According to GasBuddy.com, the lowest price for gasoline in Malibu is $3.99 per gallon. That price can be found at USA Gasoline located at 29145 Heathercliff Road and Pacific Coast Highway.
