LOS ANGELES (CBSLA) — What pandemic? Gas prices have recovered from the COVID-19 slowdown and then some, and are now at a nine-year high.
The average price of a gallon of regular gas in Los Angeles County is now $4.57 a gallon – a price hike not seen since October of 2012.
Gas prices across Southern California have been on a steady rise ever since October of 2020, when most COVID restrictions began to ease.
Drivers in Los Angeles County have seen gas prices go up 13 cents over the past 16 days, according to the AAA and Oil Price Information Service. That includes a 4.3 cent price hike from just a week ago, and nearly 16 cents more than a month ago. This time last year, that same price was $1.394 cheaper.
Indeed, gas prices are up across the state and the country. CBS News National Correspondent David Begnaud posted a picture of how much he paid to top off a rented Ford Expedition in Oakland.
High crude oil prices are driving the increase in fuel costs, with a barrel on the New York Mercantile Exchange now priced at $84.65 – the highest value it's reached since Oct. 13, 2014. In fact, crude oil prices have skyrocketed 136.52% since last year, thanks to pent-up demand after coronavirus-related restrictions eased.
for more features.