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Annenberg School of Communication and Journalism University of Southern California

Gas prices continue to climb

Average prices for gasoline in Los Angeles rose for the 15th consecutive day

The average price for gasoline costs a little bit more.

Average gas prices in Los Angeles and Orange counties rose for the 15th consecutive day on Wednesday.

Wednesday’s average price for a gallon of regular gas in Los Angeles is $4.104, according to the AAA’s Daily Fuel Gauge Report.

Prices rose to their highest since Aug. 11, 2008 in Los Angeles County.

The record high for gas prices in Los Angeles County peaked in June of 2008 at an average of $4.626.

Wednesday’s average prices are 5.1 cents higher than last week. Last year’s average gas prices in Los Angeles County were $1.012 lower than the current average, according to AAA.

The price of crude oil has affected the price of gasoline as two-thirds to three-quarters of the price of a gallon of gasoline comes from the cost of crude oil.

Crude oil approached their highest amount since September 2008. Concerns following turmoil in northern Africa and the Middle East affects crude oil costs along with increased demand worldwide. 

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