Tuesday, March 8, 2011

Southland gas prices highest since August 2008

LOS ANGELES - The average price of gasoline in Los Angeles County rose eighth-tenths of a cent today to $3.918 for a gallon of regular, its highest level since Aug. 25, 2008.

The 34th increase in 35 days pushed the average price 14.5 cents higher than a week ago, 51.7 cents above what it was one month ago and 85.3 cents greater than it was one year ago, according to figures from the AAA and Oil Price Information Service.

The average price is 70.8 cents less than the record high of $4.626 set on June 21, 2008.

The Orange County average price rose 1.2 cents today to $3.902, the highest since Aug. 23, 2008.

The Orange County average price is 14.2 cents more than a week ago, 50 cents higher than one month ago and 83.6 cents above what it was one year ago, but 69.6 cents less than the record high of $4.598 set on June 19, 2008.

The Orange County average price has increased 33 of the past 35 days, including eight-tenths of a cent Monday.

The statewide average price of $3.908 is the highest in the nation, 1.2 cents more than Hawaii, which is second. The nationwide average is $3.517.

Gasoline prices in California are typically among the highest in the nation because of taxes and a state law mandating a special blend of fuel to reduce emissions.

Analysts attribute the rising prices to increasing prices for imported crude oil stemming from concerns over the unrest in the Middle East and North Africa interrupting the flow of oil.

Crude oil costs account for

two-thirds to three-quarters of the price of a gallon of gasoline, according to Tupper Hull of the Western States Petroleum Association, a trade association representing oil companies in six western states.

Kelly Hu Dita Von Teese Lauren Bush Dania Ramirez Amber Valletta

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