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Average Gas Price Passes $4 Per Gallon In Los Angeles County

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(credit: AP/Paul Sakuma)

(credit: AP/Paul Sakuma)

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LOS ANGELES (CBS/AP) — The average price for a gallon of self-serve regular unleaded gasoline in Los Angeles County has passed the $4 mark for the first time since Aug. 19, 2008.

The average price is 3.3 cents higher than a week ago, 33.9 cents above what it was one month ago, and 90.3 cents greater than it was one year ago, according to figures from the AAA and Oil Price Information Service.

Oil prices moved up closer to $106 a barrel Friday as political upheaval in the Middle East and signs of strong global demand kept crude near two-year highs.

By early afternoon in Europe, benchmark crude for May delivery was up 17 cents to $105.77 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 15 cents to settle at $105.60 on Thursday.

(TM and © Copyright 2011 CBS Local Media, a division of CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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