(FOX 11 / CNS) The average price of a gallon of self-serve regular gasoline in Los Angeles County recorded its largest daily increase since the record hike of Oct. 5, 2012, rising 15.1 cents to $4.204, its highest amount since May 14, 2014.
The average price has risen 65.9 cents since Thursday, including 12.6 cents on Monday, to the highest amount in the state, according to figures from
the AAA and Oil Price Information Service. It is 53.7 cents more than a month ago and 7.4 cents higher than one year ago.
The Orange County average price also rose today by its largest amount since the record increase of Oct. 5, 2012, rising 15.7 cents to $4.176, its highest amount since May 16, 2014. The Orange County average price is the third highest in the state, behind Los Angeles and Ventura counties.
The Orange County average price has risen 67.9 cents since Thursday, including 14 cents on Monday. It is 58.3 cents more than a month ago and 6.3
cents higher than one year ago.
The rising prices are the result of insufficient supply to meet demand, caused by local refineries being outbid by foreign competitors for imported
oil, the ExxonMobil refinery in Torrance remaining offline because of an explosion in February and the Tesoro refinery in Carson being at least partly
offline for its annual maintenance, according to Marie Montgomery of the Automobile Club of Southern California.