Gas pump
Gas pump. Photo credit: Alexander Nguyen

The average price of a gallon of self-serve regular gasoline in San Diego County rose four-tenths of a cent Saturday to $4.705, its highest amount since Oct. 10, 2012.

The average price has risen 11 the past 12 days, increasing 8.1 cents, including two-tenths of a cent Friday, according to figures from the AAA and Oil Price Information Service. It is 3.1 cents more than one week ago, 8.3 cents higher than one month ago and $1.189 greater than one year ago. It is 2 cents less than the record high of $4.725 set Oct. 8, 2012.

“There is some indication that price increases may be leveling off for now after prices reached record levels,” said Doug Shupe, the Automobile Club of Southern California’s corporate communications and programs manager. “Tom Kloza of Oil Price Information Service says the two major factors driving gas prices are higher oil prices and inflation.”

The price of a barrel of West Texas intermediate crude on the New York Mercantile Exchange has risen $14.67 since New Year’s Day to $89.88, the fourth-highest settlement value in 2022.

–City News Service