Gas Prices Follow Surging Crude’s Lead

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Gasoline prices continued to follow surging crude oil prices, helping drive the average price for regular unleaded gasoline in Los Angeles up 4 cents per gallon in the week ended March 4, 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 13.7 cents per gallon higher than a month ago and 3.5 cents higher than the year earlier.


The average price for regular self-serve unleaded gasoline was $2.236 per gallon in Los Angeles on March 4, compared with $2.196 one week before and $2.099 one month prior.


“Surging crude oil prices are definitely causing upward pressure on gasoline prices,” said Auto Club spokeswoman Carol Thorp. “If the price of crude remains high, consumers will feel an even bigger pinch on their pocketbooks in the weeks to come.”


The lowest average price in Southern California, according to the report, is in Bakersfield, where regular is selling for $2.194. The Santa Barbara-Santa Maria-Lompoc area reported the highest average local price, at $2.348.

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