The average price of a gallon of self-serve regular gasoline in Los Angeles County rose 5.6 cents today to $3.956, the largest daily increase since May 12, in the aftermath of a Northern California refinery fire expected to reduce the supply of gasoline.
The increase, the 27th in 28 days, has pushed the average price to its highest amount since June 19, according to figures from the AAA and Oil Price Information Service.
The average price has increased 26.4 cents over the past 28 days and is 10.3 cents more than one week ago, 25 cents higher than one month ago and 17.5
cents greater than one year ago.
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The Orange County average price rose 5.5 cents today, its largest daily increase since May 12, to $3.944, its highest amount since June 16.
The Orange County average price has risen 26 times in 28 days and is 10.8 cents more than one week ago, 28.6 cents higher than one month ago and 18
cents greater than one year ago. It has increased 28.6 cents over the past 28
days, including 1.3 cents on Wednesday.
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The fire at a Chevron Corp. refinery in Richmond broke out Monday afternoon. The 110-year-old plant processes 243,000 barrels of oil a day into gasoline, diesel and jet fuel, accounting for about 15 percent of the state's fuel-making capacity, according to the Los Angeles Times.
Industry analysts expect a double-digit price hike in the coming days as a result of the fire, and a prolonged closure would have a negative impact on both consumers and the state's economy.
A fire at a BP refinery in Washington state in February left the plant out of commission until May, causing gasoline prices in the Pacific Northwest to rise about 70 cents.