Gas Prices Jump In Lake Forest

LAKE FOREST, CA —The Orange County average price rose 1.8 cents to $3.745, one day after recording its largest increase since July 14, 2015, 7.5 cents. In Lake Forest, the cheapest gasoline was found at the ARCO and Coscto Gas Stations.

It has risen 10.9 cents over the past three days and is 11 cents more than one week ago, 17.8 cents higher than one month ago and 12.9 cents greater than one year ago. It has risen 39.6 cents since the start of the year.

The price of crude oil accounts for two-thirds to three-quarters of the price of a gallon of gasoline, said Tupper Hull, vice president, strategic communications, of the Western States Petroleum Association, a trade association representing major oil companies in five Western states.

The average price of a gallon of self-serve regular gasoline in Los Angeles County rose 2.1 cents Thursday to $3.779, one day after recording its largest increase since July 15, 2015, 6.5 cents, because of higher crude oil prices stemming from the weekend drone attacks on two major oil facilities in Saudi Arabia.

The average price has risen 10.7 cents over the past three days and is 10.8 cents more than one week ago and one year ago and 18.8 cents higher than one month ago, according to figures from the AAA and Oil Price Information Service. It has risen 38.8 cents since the start of the year.