Gasoline prices rise for 11th consecutive week

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREStriving toward a more perfect me: Doug McIntyre The Orange County average price rose 8.5 cents this week to $3.36, 11.9 cents below the record of $3.479 set May 8. Prices have also increased 11 consecutive weeks in Orange County. The average price rose 12.9 cents from Nov. 2-9; 5.1 cents from Oct. 26-Nov. 2; 3.3 cents from Oct. 19-26; 8.6 cents from Oct. 12-19; 2.8 cents from both Oct.5-12 and Sept. 28-Oct. 5; 1.1 cents from Sept. 21-28, 8.8 cents from Sept. 14-21; 10.6 cents from Sept. 7-14 and 2.7 cents from Aug. 31-Sept. 7 after dropping 15 of the previous 16 weeks. The continued November price increases are unusual, an Auto Club spokesman said. “When prices have spiked in prior fall seasons, we usually experienced the peak in September or October,” Jeffrey Spring said. “High gas prices around the holidays could put a dent in shoppers’ and travelers’ budgets.” The lower increases come as the cost of crude oil, the biggest component in the price of gasoline, has dropped from record highs. The contract price of a barrel of light sweet crude oil for December delivery on the New York Mercantile Exchange closed at $92.68 yesterday, down $1.41 for the day and $5.94 less than the record price of $98.62 a week earlier. The average price of a gallon of unleaded regular gasoline in Los Angeles County rose for the 11th consecutive week this week, but at a lower rate than the week before, the Automobile Club of Southern California reported today. An 8.2-cent increase put the average price of a gallon of unleaded regular in the Los Angeles-Long Beach area to $3.379, 36 cents more than last month, 92 cents more than at this time last year and within 10.8 cents of the record high of $3.487 registered on May 9. The average rose 13.7 cents from Nov. 2-9; 3.7 cents from Oct. 26-Nov. 2; 3.8 cents from Oct. 19-26; 9.1 cents from Oct. 12-19; 1.9 cents from Oct. 5- 12; 1.4 cents from Sept. 28-Oct. 5; 2.9 cents from Sept. 21-28; 7.5 cents from Sept. 14-21; 9.2 cents from Sept. 7-14; and 3.2 cents from Aug. 31-Sept. 7 after dropping 15 of the previous 16 weeks. The increase at the pump was also smaller than the previous week because of unexpected increases in crude oil and gasoline supplies. The Auto Club provided this breakdown of gasoline prices in selected portions of California and Nevada as of today: One-week Area Regular Change Record Price Los Angeles – Long Beach $ 3.379 + 8.2 cents $ 3.487 (5/9/2007) Orange County $ 3.360 + 8.5 cents $ 3.479 (5/8/2007) San Diego $ 3.404 + 8.2 cents $ 3.503 (5/8/2007) Santa Barbara – Santa Maria – Lompoc $ 3.482 + 6.1 cents $ 3.614 (5/15/2007) Riverside – San Bernardino $ 3.379 + 8.2 cents $ 3.486 (5/8/2007) Bakersfield $ 3.341 +9.3 cents $ 3.489 (5/7/2007) Las Vegas $ 3.112 + 7 cents $ 3.209 (5/29/2007)160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img

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