Nov 21, 2007 12:17 pm US/Pacific
Gasoline Prices Rise To Thanksgiving Record
LOS ANGELES (CBS) ―
The average price of a gallon of unleaded regular gasoline in Los Angeles County rose for the 12th consecutive week, but by a lower rate than recent weeks, the Automobile Club of Southern California reported Wednesday.
A 2.3-cent increase since Friday put the average price of a gallon of unleaded regular in the Los Angeles-Long Beach area to $3.402, 28 cents more than last month, 91 cents more than at this time last year and within 8.5 cents of the record high of $3.487 registered on May 9.
The Orange County average price rose 1.6 cents this week to $3.376, 10.3 cents below the record of $3.479 set on May 8.
Both averages are records for the Thanksgiving holiday.
"Price averages have actually dropped slightly in most Southern California areas over the past couple of days, but it's too early to tell if we've reached the peak of this spike yet," Auto Club spokesman Jeffrey Spring said.
The Los Angeles-Long Beach average rose 8.2 cents from Nov. 9-16; 13.7 cents from Nov. 2-9; 3.7 cents from Oct. 26-Nov. 2; 3.8 cents from Oct. 19-26; 9.1 cents from Oct. 12-19; 1.9 cents from Oct. 5-12; 1.4 cents from Sept. 28- Oct. 5; 2.9 cents from Sept. 21-28; 7.5 cents from Sept. 14-21; 9.2 cents from Sept. 7-14; and 3.2 cents from Aug. 31-Sept. 7 after dropping 15 of the previous 16 weeks.
Prices have also increased 12 consecutive weeks in Orange County. The average price rose 8.5 cents from Nov. 9-16; 12.9 cents from Nov. 2-9; 5.1 cents from Oct. 26-Nov. 2; 3.3 cents from Oct. 19-26; 8.6 cents from Oct. 12- 19; 2.8 cents from both Oct. 5-12 and Sept. 28-Oct. 5; 1.1 cents from Sept. 21- 28, 8.8 cents from Sept. 14-21; 10.6 cents from Sept. 7-14 and 2.7 cents from Aug. 31-Sept. 7 after dropping 15 of the previous 16 weeks.
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