EDITOR'S NOTE: Multimedia journalist Lauren Pozen spoke with a rideshare driver about rising fuel prices. Click the arrow above to watch the video.
LOS ANGELES (CNS) — The average price of a gallon of self-serve regular gasoline in Los Angeles County rose 8.9 cents to $5.518 Tuesday, its 30th record in 32 days.
The average price rose 12.8 cents Sunday, its second-largest increase since July 14, 2015, according to figures from the AAA and Oil Price Information Service.
The average price in LA County has risen 34 times in 37 days, increasing 84.9 cents. It is 62 cents more than one week ago, 77.3 cents higher than one month ago and $1.705 greater than one year ago.
The average price in Orange County rose 8.8 cents to $5.514, its 29th record in 34 days.
The average price in OC has increased 24 of the past 26 days, rising 79.2 cents. The average price in OC is 64.4 cents more than one week ago, 78.9 cents higher than one month ago and $1.708 greater than one year ago.
Oil industry analysts attribute the price spike to the possibility of a supply shortage because traders, shippers, insurance companies and banks are avoiding Russian oil transactions for fear of running afoul of Western sanctions.