LOS ANGELES, Jan. 4 (Xinhua) -- With crude oil prices reaching record high, gasoline prices rose after five weeks of declines in Southern California, which has the highest prices in the nation, the Automobile Club of Southern California said Friday.
The average price of unleaded regular gasoline hit 3.303 U.S. dollars a gallon in the Los Angeles County this week, rising 8.1 cents after falling for five consecutive weeks, said the Auto Club.
Despite the increases, Los Angeles County's average is five cents less than last month, but 68 cents more than this time last year.
"Oil industry analysts are pointing to ongoing record crude prices as the reason behind continued high pump prices both in California and nationwide, with the national average now standing at 3.05 dollars a gallon," Auto Club spokesman Jeffrey Spring said.
"One month of price decreases in California between Thanksgiving and Christmas brought averages down by less than 20 cents before they started heading back up in the last week and a half."
The price for a barrel of light sweet crude rose to a record 100.09 dollars on Friday in Asian electronic trading on the New York Mercantile Exchange, before closing at 99.32 dollars, a 14-cent increase over the previous day's close.
The Auto Club provided this breakdown of gasoline prices in selected portions of California and Nevada as of Friday.
The average price of unleaded regular gasoline hit 3.303 U.S. dollars a gallon in the Los Angeles County this week, rising 8.1 cents after falling for five consecutive weeks, said the Auto Club.
Despite the increases, Los Angeles County's average is five cents less than last month, but 68 cents more than this time last year.
"Oil industry analysts are pointing to ongoing record crude prices as the reason behind continued high pump prices both in California and nationwide, with the national average now standing at 3.05 dollars a gallon," Auto Club spokesman Jeffrey Spring said.
"One month of price decreases in California between Thanksgiving and Christmas brought averages down by less than 20 cents before they started heading back up in the last week and a half."
The price for a barrel of light sweet crude rose to a record 100.09 dollars on Friday in Asian electronic trading on the New York Mercantile Exchange, before closing at 99.32 dollars, a 14-cent increase over the previous day's close.
The Auto Club provided this breakdown of gasoline prices in selected portions of California and Nevada as of Friday.
