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LOS ANGELES (CBSLA) – Fuel costs in Los Angeles and Orange counties hit report highs once more Thursday and present no indicators of petering out any time quickly because the Russian invasion of Ukraine might hike costs much more within the coming weeks.
The typical value of a gallon of standard Thursday in L.A. County elevated 2.6 cents to $4.82, a brand new report.
The typical value has set 18 data in 21 days, in keeping with figures from the AAA and Oil Worth Info Service. It has additionally elevated 21 instances in 24 days. It’s 15 cents larger than one month in the past and $1.14 better than one yr in the past.
The Orange County common value set its seventeenth report since Feb. 3, growing 2.5 cents to $4.80.
The Orange County common value is 15 cents larger than one month in the past and $1.13 better than one yr in the past.
Russia started a full-scale invasion of Ukraine Wednesday, a transfer prone to create vital volatility throughout international markets and lift the worth of crude oil. Bloomberg reported Thursday that the worth of a barrel of crude oil rose to $105 following the invasion, the primary time it has crossed the $105-mark since Russia invaded Crimea in 2014.
Final month, California Gov. Gavin Newsom proposed the potential of freezing the state’s gasoline tax hike this yr in an effort to fight spiking inflation. California has a gasoline excise tax of 51.1 cents per gallon, the very best of any state within the nation. That tax is scheduled to extend on July 1 due to inflation.
(© Copyright 2022 CBS Broadcasting Inc. All Rights Reserved. Metropolis Information Service contributed to this report.)
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