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Gas prices hit highest levels of the year

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Gas prices in Southern California hit the highest levels of the year over the last week, according to the Automobile Club of Southern California.

The average price of self-serve regular gasoline in the Los Angeles region was $3.15 a gallon, an increase of 2.4 cents over the previous week.

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The latest high mark is also 3.8 cents higher than last month and 10.3 cents higher than last year, the Auto Club said.

Gas prices elsewhere were even higher, averaging $3.17 in the San Diego area and $3.22 in the Central Coast, according to the Auto Club.

The Los Angeles region’s record high for the month of June was in 2008, when gas prices peaked at $4.63.

Rising crude oil prices pushed up gasoline prices in July, and Auto Club spokesman Jeffrey Spring said the oil market may have been boosted last month in part by speculation about supply distribution problems during hurricane season in the Gulf of Mexico.

However, he noted, crude prices have dropped this week in response to bad economic news.

‘It remains to be seen whether gas prices will follow suit,’ he said. -- Hugo Martin


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