The average price of a gallon of self-serve regular gasoline in San Diego County rose Saturday for the 10th time in 12 days, increasing four-tenths of a cent to $4.257, its highest amount since May 6, 2014.
The average price has risen 4.1 cents over the past 12 days, including 1.3 cents Friday, its largest daily increase since May 6, according to figures from the AAA and Oil Price Information Service. It is 3 cents higher than one week ago, 9.3 cents more than one month ago and $1.171 greater than one year ago.
The Chevron refinery in El Segundo and Phillips 66 refinery both reported flaring incidents to the South Coast Air Quality Management District in recent days, Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager, told City News Service.
“Typically, that means an interruption in production,” reduced supplies and higher prices, Spring said.
The average price has risen $1.03 since the start of the year, including 66.4 cents during a run of 87 increases in 94 days from Feb. 9-May 13.
“The biggest reasons for prices increasing as much as they have in the past six months is the fact that oil increased to $73 per barrel from less than $49 per barrel since January and increased demand because of more people returning to a work commute,” Spring said.
The large price increase from one year ago is the result of a significant decrease during the early stage of the coronavirus pandemic, when driving and demand dropped substantially because of stay-at-home orders intended to reduce the spread of the virus.
–City News Service