The average price of a gallon of self-serve regular gasoline in Los Angeles County rose Wednesday for the sixth consecutive day, increasing 1.7 cents to $3.756.
The average price fell to its lowest amount since Jan. 4 last Thursday, then increased 6.4 cents over the next six days, including eight-tenths of a cent on Tuesday, according to figures from the AAA and Oil Price Information Service.
The six consecutive increases, which began after a 57-day streak of decreases, have pushed the average price 5.7 cents above what it was one week ago. However, it is 23.2 cents less than one month ago and 5.8 cents lower than one year ago.
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The rising pump prices are the result of higher crude oil prices, according to Jeffrey Spring of the Automobile Club of Southern California.
The price of a barrel of benchmark West Texas Intermediate crude on the New York Mercantile Exchange rose Tuesday for the fifth consecutive day, increasing 79 cents to $89.22, its highest settlement price since May 29. The five-day streak of increases is the longest since April 27.
The price of a barrel of benchmark West Texas Intermediate crude was at an eight-month low of $77.69 on June 28, then began rising.
Crude oil costs account for two-thirds to three-quarters of the price of a gallon of gasoline, said Tupper Hull of the Western States Petroleum Association, a trade association representing oil companies in six western states.
