Los Angeles County Gas Prices Increases Slow Down

LOS ANGELES (CBS) — Gas prices rose again Tuesday, but only slightly, which could mean the increases may end soon.

“The increases have definitely slowed down,” said Marie Montgomery of the Automobile Club of Southern California. “We’re going to have to see a couple a more days to be able to declare the increases are over.”

The price of a gallon of self-serve regular gasoline did rise for the 28th consecutive day, but only about two-tenths of a cent. The slowing of the price increases are thanks in part to last week’s decline in oil prices to about $106 a barrel off their peak of $113 earlier this month.

The average price of $4.217 is the highest since Aug. 4, 2008, and 3.3 cents more than a week ago, 24.4 cents above what it was one month ago and $1.121 greater than it was one year ago, according to figures from the AAA and Oil Price Information Service.

The average price is 40.9 cents less than the record high of $4.626 set on June 21, 2008.

(©2011 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)

Comments

One Comment

  1. CORRUPT US GOVERNMENT says:

    it’s Political Corrupt at it’s best. If they sold Unocal 76 to China a few years ago for $20 Billions, we won’t have to pay this much for Gas

    US Congress block the sale to China, instead it was Sold to Chevron for far less at $18 Billions.

    The US Government involved in the Sale made lots of $$$$$$$.

  2. Mike says:

    It might be time to purchase a locking gas cap.

  3. CORRUPT US GOVERNMENT says:

    CORRUPT US GOVERNMENT

    it’s Political Corrupt at it’s best. If they sold Unocal 76 to China a few years ago for $20 Billions, we won’t have to pay this much for Gas.

    US Congress block the sale to China, instead it was Sold to Chevron for far less at $18 Billions.

    The US Government involved in the Sale made lots of $$$$$$$.

    if the sale went to China, imagine Gas stations popping up everywhere much like 99 cents stores & dollar trees.

  4. drozone69 says:

    gas prices go hand in hand with our influx of third worg refugees.for every 100,000 that arrive monthly expect 20 cents increase in petro prices.it is simple supply and demand banking by our new world bank headquartered in Israel.

  5. Rich Mexican MD says:

    @drozone69,

    You’re posts are always wrong. The cost of gas is directly related to what investors ‘feel’ about the stability of the petroleum market. Supply and demand have very little to do with US gas prices.

    @ corrupt us government

    The sale of unocal to china would have raised prices. The Chinese are in the mist of their own industrial revolution and in need of petroleum. Last time I checked, china is soon to be the largest consumer of crude in the world. If they bought unocal, where do you think gas and jobs would be funneled to? Not your local gas station.

  6. Joseph Pearl says:

    Thanks for staying on top of this development. Very important information for my practice as a consumer attorney. Keep up the work.

    Joseph Pearl
    Bakersfield Bankruptcy Attorney
    http://BankruptcyBakersfield.com

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