The average price of a gallon of self-serve regular gasoline in San Diego County rose Wednesday for 16th consecutive day and 34th time in 35 days, increasing 1.9 cents to $3.657, its highest amount since Dec. 17, 2019.
The average price has increased 31.2 cents over the past 35 days, including 2.2 cents on Tuesday, according to figures from the AAA and Oil Price Information Service. It is 12.2 cents more than one week ago, 28.4 cents higher than one month ago and 10.9 cents greater than one year ago.
“One of the major factors behind rising gas prices in Southern California is trader activity in the futures markets, an indicator that traders see California gasoline as a good investment because it historically goes up in the spring,” said Marie Montgomery, a public relations specialist with the Automobile Club of Southern California.
“There’s not a lot of actual return of gasoline demand to pre- pandemic levels, but traders are predicting it will pick up once vaccine distribution is more widespread.”
–City News Service