Average California Gas Price Today Differ in Several Counties

LA County’s gasoline price today at $3.829 per gallon, a $0.001 fall, ended consecutive increases throughout the past 14 days.

During the streak of increases, the average gasoline price gained $0.138, which includes its recent increase of   $0.002, according to figures of the OPIS and AAA.

In spite of the slight fall, the average gasoline price today is $0.052 higher compared to a week ago, $0.02 more than the past month and a penny greater versus last year.

The current gas price average in the Orange County rose to $3.807, a day following a set of increases for 13 straight days. Orange County’s current gas price average is higher by $0.059 versus a week ago, $0.041 greater compared to last month and $0.005 more than the past year.

Jeffrey Spring of Southern California’s Automobile Club said that with the oil price per barrel staying around $90, there was still a little upward push on last week’s gasoline prices. But prices in several markets in California have moved lower or stayed the same in the past couple of days, so it is difficult to know what’s going to happen in the coming week, added Spring.

The recent oil price per barrel of West Texas Intermediate gained $0.42 and ended at $89.39 on the NYMEX. The cost of crude oil accounts for 66 percent to 75 percent of the per gallon price of gasoline, said Western States Petroleum Association’s Tupper Hall.

By: Chris Termeer

Chris Termeer

Chris Termeer is an oil and gas consultant, industry commentator and analyst. His book, Fundamentals of Investing in Oil and Gas provides a comprehensive overview of all aspects of the oil and gas industry, including exploration, drilling, production, storage, transportation and refining, to name but a few.

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