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Weekend Gas Prices Smash Records, Jump 46 Cents in Four Days

Gas prices skyrocketed 19.2 cents on Friday.

The average price of a gallon of self-serve regular gasoline in Los Angeles County rose to a record $4.661 today, increasing 12.2 cents from Friday.

The average price has risen 46 cents over the past four days, including a record 19.2 cents on Friday, according to figures from the AAA and Oil Price Information Service. It is 50.7 cents more than a week ago, 48.4 cents higher than a month ago and 84.5 cents greater than at this time last year.

The previous record was $4.626, set on June 21, 2008. The Orange County average price also rose to a record, $4.65, increasing 12.5 cents from Friday.

In Glendora, the most expensive gas is $4.89 per unleaded gallon at a Shell station, 1860 E Route 66, according to Gasbuddy.com. The cheapest gas in the city comes in at $4.30 a gallon at a 76 station, 106 E. Route 66.

The record prices are the result of wholesale markets going "into a panic about the adequacy of California fuel supplies,'' following a power failure at the ExxonMobil Torrance Refinery and closure of a Chevron pipeline that moves crude oil to Northern California Monday, said Jeffrey Spring of the Automobile Club of Southern California.

The Monday incidents followed local refineries dropping production levels, exporting supply to Mexico and other countries, and allowing inventory to dwindle in anticipation of switching over to production of winter blend gasoline, Spring said.

Tell us: How much are you paying for gas?

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Not buying in October 07, 2012 at 04:30 PM
Must be nice to be able to advance such lofty goals. Too many people in this country feel pain when prices go up. Good luck with the economic incentive theory. I still say its directed to cause pain in the poorer families the Romney Puppet Co. Can't otherwise reach.
Bill C. October 07, 2012 at 11:59 PM
When Obama spoke at the debate about how much more oil we're producing Romney correctly spoke that the gains were on private lands not federal. It's mostly a foreign produced product because of liberal obstruction here. Obama, like most other mindless environmentalists fails to want any balance to their making the country green agenda. No high gas prices aren't a good thing beacuse the costs of everything else rises with it and with no coherent energy policy, and the left doesn't have one ( you know,a policy people can actually buy into), the market for "sustainable/efficient vehicles and public transportation" is a dream.
Secret I'm Listed October 08, 2012 at 12:35 AM
FYI - According to the Center for Responsive Politics, the oil and gas industry ranks in Romney's top 10 contributing industries and has provided his campaign about $3.5 million in funding. Overall, Romney had received more than $6 million from the energy and natural resources sector as of the end of August, compared to the $1.6 million given to Obama. Mentioned a couple times in the debate, Exxon Mobil is one of the largest supporters of the Republican Party, giving $1.2 million to conservatives in the 2012 election cycle and $82,350 of that to Romney. Koch Industries, whose largest market is petroleum refining, also is a top donor to federal Republican candidates, having contributed about $1.5 million to them overall, including $21,450 to Romney, according to data on OpenSecrets.org.
Not buying in October 08, 2012 at 12:40 AM
As I had suspected, Thanks for the due diligence. These snakes will stop at nothing!
James October 08, 2012 at 02:43 PM
I agree with Zach. It doesn't matter if Romney or Obama are in the big chair...they don't regulate the oil companies. Plus I doubt most people on the Right want more governement involvement over the oil industry. Bottom line, these private companies are looking to grow their profit. For anyone waiting for gas to go back to $1.00 a gallon, don't hold your breath. The world is changing. Eventually if people feel enough pain we won't drive our F350s and Armadas with two people in side. We will continue to develop public transportation, subways, and bus systems.The engines we do have now, which is decades old technology, will be improved to be more efficeint. It's not a dream, its social evolution.

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