The average price of a gallon of self-serve regular gasoline in San Diego County rose to its highest amount since Oct. 12, 2012, Saturday because of higher oil prices and refineries beginning to ship summer blend gasoline, which is more expensive to produce.
The average price rose Saturday for the fifth consecutive day, increasing eight-tenths of a cent to $4.674, according to figures from the AAA and Oil Price Information Service. It has increased 5 cents over the past five days, including 1 cent on Friday and 1.8 cents Wednesday, the largest daily increase since Nov. 13.
The average price is 4.9 cents more than one week ago, 4.7 cents higher than one month ago and $1.209 greater than one year ago.
On Friday, the price of a barrel of West Texas intermediate crude on the New York Mercantile Exchange rose to its highest settlement value since Sept. 29, 2014, increasing $2.04 to $92.31. It has risen $17.10 since New Year’s Day.
Doug Shupe, the Automobile Club of Southern California’s corporate communications and programs manager, cites “world tensions and OPEC concerns” as the reasons for the rising oil prices.
–City News Service
