Business & Tech
VIDEO: Neighborhood Council President Appears on TV as Gas Prices Skyrocket
Price at the pump records largest daily jump since 2010.
As the average price of a gallon of self-serve regular gasoline in Los Angeles County Thursday recorded its largest daily increase since at least 2010, NBC Nightly News went in search of a bargain at the pump.
With $5 a gallon in some places nationally, they found it at a Shell station owned by Chatsworth Neighborhood Council President Andre van der Valk. It was one of three stations he owns.
However, he's been forced to raise his prices every day, sometimes every hour. His price was $4.35 during the broadcast.
Find out what's happening in Northridge-Chatsworthfor free with the latest updates from Patch.
Squinting into the sun, van der Valk said: "Consumers should be very, very angry and very challenging of the oil companies. That's where it all starts."
With Wall Street commodity speculators bidding up the prices, and saber rattling in the Middle East, local self-serve regular gas prices lept 7.3 cents Thursday to $4.186, its highest amount since May 19 of last year.
Find out what's happening in Northridge-Chatsworthfor free with the latest updates from Patch.
The sharp increase is due in part to a major fire at the Cherry Point refinery near Blaine, WA, that will cause its closure for at least three weeks and reduce supply, Marie Montgomery of the Automobile Club of Southern California told City News Service.
The price had also been increasing because of rising oil prices and the closure of some California refineries for maintenance, according to analysts.
The average price has increased 17 consecutive days and 29 times in 30 days and is 23.9 cents more than one week ago, 44.1 cents higher than a month ago and 60.8 cents greater than a year ago, according to figures from the AAA and Oil Price Information Service.
The Orange County average price also recorded its largest daily increase since at least 2010, rising 8.1 cents to $4.186, its highest amount since May 17.
The Orange County average price is 24.7 cents more than one week ago, 45.1 cents higher than a month ago and 61.8 cents greater than a year ago. It has increased 33 of the past 35 days, rising 46.8 cents during that span, including 3.4 cents on Wednesday.
-- City News Service contributed to this report.
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