Gas Prices Soar Due To Tensions With Iran, Refinery Closures
LOS ANGELES (CBS) — Soaring gas prices are giving drivers a new round of pain at the pump.
Fuel prices have risen 25 of the past 26 days in Los Angeles and Orange counties, according to AAA.
At an average of $4.06 a gallon, prices are at their highest point since last summer.
CBS2’s Kara Finnstrom reports that a gallon of self-serve regular unleaded gasoline is $4.93 a gallon at a Shell station in the Miracle Mile district.
It’s not unusual to have price jumps in February, but AAA and the Oil Price Information Service say gas prices were already at record highs.
Motorists across the Southland say they are not only checking prices, but they are also doing their best to conserve gas.
Analysts say prices are on the rise due to escalating tensions with Iran over its nuclear program, as well as the closings of several California refineries for maintenance.