Gas pump with prices. Photo by Alexander Nguyen

The average price of a gallon of self-serve regular gasoline in San Diego County rose two-tenths of a cent Sunday to $4.387, one day after increasing one-tenth of a cent.

The average price has risen seven of the past eight days, increasing 3.1 cents to its highest amount since Oct. 23, 2012, according to figures from the AAA and Oil Price Information Service. It is 2.6 cents more than one week ago, 3.2 cents higher than one month ago and $1.20 greater than one year ago.

The recent increases to the pump price are the result of high crude oil prices. The price of a barrel of West Texas intermediate crude on the New York Mercantile Exchange rose to its highest amount since 2014 on Friday, closing at $79.35.

Crude oil costs account for slightly more than half of the pump price, according to the U.S. Energy Information Administration.

Show comments