The average price of a gallon of self-serve regular gasoline in Los Angeles County rose a half-cent Wednesday to a record amount for New Year's Day, $3.694, erasing the previous record of $3.655, set in 2012.
Prices are typically lower in the winter than the summer, when a combination of higher demand and the requirement to sell the summer blend of gasoline, which is more expensive to produce, results in higher prices.
The all-time record is $4.705, set on Oct. 9, 2012.
The average price has increased for 11 consecutive days, rising 5.4 cents over that span, including eight-tenths of a cent on Tuesday, according to figures from the AAA and Oil Price Information Service. It is 4.3 cents more than one week ago, 7.7 cents higher than one month ago and 7.6 cents greater than one year ago.
— City News Service