Gas prices in SoCal are rising toward $4 a gallon

Gasoline prices are climbing toward $4 a gallon in Southern California, boosted in large part by a rise in worldwide crude oil prices.

The average pump price for regular gas in the Los Angeles-Long Beach area stood at $3.736 a gallon Thursday, up nearly 60 cents, or 19 percent, from a year ago, according to the American Automobile Association.

Prices for midgrade and premium blends have climbed to $4 or more a gallon at certain stations in the area.

The average regular price for all of California stood at $3.683 a gallon, up 18 percent from $3.114 a year ago, the AAA said. It's still well below the state's record high of $4.671, set in October 2012.

Part of the increase since a year ago reflects a 12-cent hike in California's fuel excise tax that went into effect last November, bringing that state tax to 41.7 cents a gallon.

The sharp gains also stem from climbing oil prices. The price of the benchmark West Texas Intermediate crude oil for near-term delivery on the New York Mercantile Exchange rose 31 cents at $71.89 a barrel in morning trading Thursday.

The oil contract's price has shot up more than $20 a barrel, or 39 percent, in the last 12 months after the Organization of Petroleum Exporting Countries and Russia agreed in late 2016 to restrain crude production and ease a global oil glut.