Tuesday, May 24, 2022

Gas prices rise, biggest increase since end-February

There has been a sudden jump in gas prices in May, rising nearly 15 cents in two weeks.

The average price of a gallon of self-serve regular gas in Los Angeles County posted the biggest increase since February 25, rising 2.2 cents to $5.919.

According to data from AAA and the Oil Price Information Service, the average price has risen for 16 consecutive days, an increase of 14.7 cents. The streak follows 28 descending orders for a total of 29.6 cents over 30 days.

The average price is 6.7 cents higher than a week ago, 8.7 cents higher than a month ago, and $1.753 higher than a year ago. It is 15.1 cents lower than the record high of $6.07 set on March 28.

According to the Oil Price Information Service, “Philips 66 Wilmington Refinery has been undergoing planned maintenance for nearly a month, maintaining upward pressure on local prices,” said Doug Shupe, Corporate Communications Manager for the Automobile Club of Southern California. .

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The Orange County average price posted its biggest increase since February 2, rising 3.2 cents to $5.874. It has risen in 15 of the past 16 days, rising 16.3 cents, including six-tenths on Thursday.

Nation World News Desk
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