Gas Prices Rise on Crude Futures Surge

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Gasoline prices followed the lead of rising oil prices, reaching or nearing all-time record highs, which helped drive the average price for regular unleaded gasoline in Los Angeles up 5.3 cents per gallon in the week ended April 1, according to the Automobile Club of Southern California.


In its weekly Weekend Gas Watch, the Auto Club noted that pump prices as of Friday were 23 cents per gallon higher than a month ago and 36 cents higher than one year earlier.


The average price for regular self-serve unleaded gasoline was $2.435 per gallon in Los Angeles on April 1, compared with $2.382 one week before and $2.219 one month before.


“There are ample supplies of oil and gas to meet our needs,” said Auto Club spokesman Paul Gonzales. “The factor holding up local gas prices has been the high cost of crude oil. Unless crude falls, local gas prices will continue rising.”


The lowest average price in Southern California, according to the report, is in Orange County and San Diego, where regular is selling for $2.428. The Santa Barbara-Santa Maria-Lompoc area reported the highest average local price, at $2.537.

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