Southern California Gas Prices Reach $5, $6, And Beyond
LOS ANGELES (CBSLA) — What was once unthinkable is now a Southern California fact of life – gas prices across the region are at $5 or more, and there doesn't appear to be any end to the pain at the pump in sight.
The average price of a gallon of self-serve regular gasoline in Los Angeles County rose twice over the weekend – 9.5 cents on Saturday and 12.8 cents on Sunday. The average price hit a record high for the 29th time in 31 days on Monday, going up again 5.4 cents to $5.429.
In Los Angeles and Orange counties, the average cost for a gallon of gas is $5.43. In Ventura County and the Inland Empire, the average price for that same gallon of gas is just a little less at $5.34 and $5.32, respectively.
However, eye-popping prices have been spotted at several stations across Southern California. Another station had a gallon of regular gas at $6.65. In remote areas like Gorda in Monterey County, a station along Highway 1 was spotted with gas prices well over $7.
And the rest of the country is also feeling the pain at the pump. U.S. gas prices on Monday topped $4 per gallon for the first time since 2008.
Oil industry analysts say the spike in prices is due to a supply shortage from traders, shippers, insurance companies, and banks avoiding Russian oil transactions amid the conflict in Ukraine.
