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Oil Breaks Records... Again

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Oil just keeps creeping up in price everyday it seems. This morning, headlines like this read "Oil Passes $120 A Barrel For First Time Ever." But don't expect today's record breaking numbers to be the cause of any immediate increases in local gas prices. According to Jeffrey Spring of AAA of Southern California, it takes three to six weeks to see the effect of oil prices at the pump. Any price increase or decrease on any given day is a product of that timeline. As of today, the average price of regular gas in Los Angeles is $3.90.