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Gas prices go over $5 in Los Angeles

Prices may decrease soon but are seemingly at a peak

LOS ANGELES, Calif. (KYMA, KECY/CBS) - With the recent news of gas prices sitting on an average of $3.40, there have been reports of prices going over $5 in Los Angeles.

The West Coast has been seeing the highest price of gas compared to the rest of the United States, with California's average price being at $4.70 a gallon.

Some gas stations in Los Angeles have seen prices at around $5.29.

President Joe Biden recently announced that his administration will be releasing barrels from reserves to bring prices down.

Some analysts say the rise in the value of gas can be due to fears of a COVID-19 resurgence in the U.S. and Europe.

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Marcos Icahuate

CBS News

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Mercedes Martinez

Mercedes Martinez joined the KSWT team as anchor/producer in October 2020. You can catch her on 13 On Your Side at 4:00pm.

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