Support for LAist comes from
Made of L.A.
Stay Connected

Share This

This is an archival story that predates current editorial management.

This archival content was written, edited, and published prior to LAist's acquisition by its current owner, Southern California Public Radio ("SCPR"). Content, such as language choice and subject matter, in archival articles therefore may not align with SCPR's current editorial standards. To learn more about those standards and why we make this distinction, please click here.

News

Oil Prices Surge, Gas Prices to Follow Suit

Our June member drive is live: protect this resource!
Right now, we need your help during our short June member drive to keep the local news you read here every day going. This has been a challenging year, but with your help, we can get one step closer to closing our budget gap. Today, put a dollar value on the trustworthy reporting you rely on all year long. We can't hold those in power accountable and uplift voices from the community without your partnership.

Today, a barrel of oil spiked at $143.52, a (broken) record, once again. That comes at a time when the Los Angeles area has been seeing a two-week plateau in gas prices around $4.60. AAA reports gas in Los Angeles averages at $4.602, but LosAngelesGasPrices.com has gas tipping down towards $4.57.

However, with oil prices spiking as they are, the change in gas prices will be seen in weeks to come. 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.

Photo by Open Air Control Testing Ground via LAist Featured Photos on Flickr

Most Read