Gas prices go up after 92 days of decreases in…
Gas prices go up after 92 days of decreases in Los Angeles County
By City News Service | news@socalnews.com |
PUBLISHED: January 2, 2015 at 7:59 p.m. | UPDATED: August 29, 2017 at 5:22 a.m.
LOS ANGELES >> A 92-day streak of decreases ended Friday when the average price of a gallon of self-serve regular gasoline in Los Angeles County rose eight-tenths of a cent to $2.654.
The increase comes one day after gasoline began being covered under the Cap-and-Trade Program which requires fuel suppliers to reduce greenhouse gas emissions by supplying low-carbon fuels or purchasing pollution permits to cover the greenhouse gases produced when the conventional petroleum-based fuel they supply is burned.
The price dropped $1.069 during the streak, including 1.2 cents on Thursday, to its lowest amount since May 25, 2009, according to figures from the AAA and Oil Price Information Service.
Despite Friday's increase, the average price is 5.7 cents less than one week ago, 43.7 cents lower than one month ago and $1.042 below what it was one year ago.
The Orange County average price rose 1.2 cents to $2.627 after dropping 32 consecutive days and 59 of the previous 60 to its lowest amount since May 23, 2009.
The Orange County average price dropped 69.4 cents over the previous 60 days, including 1 cent on Thursday. It is 5.2 cents less than one week ago, 42.2 cents lower than one month ago and $1.055 below what it was one year ago.
The Cap-and-Trade Program is among the provisions of the Global Warming Solutions Act of 2006, approved by the Legislature and signed into law by then- Gov. Arnold Schwarzenegger.
City News Service is a regional wire service covering Los Angeles, Orange, Riverside and San Diego counties. Its reporting and editing staff cover public safety, courts, local government and general assignment stories. Contact the City News Service newsroom at 310-481-0404 or news@socalnews.com.
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