The average price of a gallon of self-serve regular gasoline in Los Angeles County recorded what is believed to be its largest single-day increase Friday, rising 19.2 cents to $4.539 -- its highest amount since July 12, 2008.
The average price has increased by more than 1 cent on each of the past seven days, including 8.8 cents on Thursday and 5.8 cents on Wednesday. It is now 40.3 cents more than a week ago, 36.4 cents higher than a month ago and 71.5 cents greater than at this time last year, according to figures from the AAA and Oil Price Information Service.
The record price is $4.626, set on June 21, 2008.
A Marina del Rey station was shut down on Thursday and a power failure at the Exxon-Mobil Torrance refinery earlier this week has reduced supply.
"Reportedly in recent weeks, local refineries were 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, then a refinery power outage and a pipeline incident occurred on Monday that sent wholesale markets into a panic about the adequacy of California fuel supplies," said Jeffrey Spring of the Automobile Club of Southern California.
Spring said "it's not clear" how much higher prices will go.
"A lot depends on whether the perceived supply issues are quickly addressed," he said.
When we asked on Facebook what people were spending on gas, here's a couple responses we received:
Odysseus Bostick $35.45 from empty to full.
Jose Paez I did in my trck Silverado at the Arco in Idiana st next to the 5 fwy. 80 dlrrs of the regular gas at 4.27 a gallon, the cheapest in Los Angeles most where 4.39 and up to 5.65 a gallon.
- City News Service contributed to this report.