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Gas Prices Jump More Than 10 Cents In Month

Possible War With Iraq Blamed

POSTED: 4:21 p.m. PST February 11, 2003
UPDATED: 4:31 p.m. PST February 11, 2003

The average price of a gallon of unleaded gasoline in San Diego was $1.765 Tuesday, up from $1.659 a month ago, according to the Automobile Club of Southern California's monthly Fuel Gauge Report.

The Auto Club blamed industry fear and speculation about possible war with Iraq and the possibility of another terrorist strike on the United States for pushing gasoline prices to levels not seen since July 2001.

The Southern California average price for regular self-serve unleaded gasoline was $1.725, up more than 11 cents from the Jan. 14 average of $1.611. Nationally, the average price rose nearly 14 cents to $1.605.

"Prices are moving higher than supply and demand warrant," said the Auto Club's Carol Thorp. "We believe that this is in part a panicked response by wholesalers and retailers to as-yet undetermined oil supply shortfalls due to an as-yet unannounced war."

Some increase was expected due to the ongoing strike in Venezuela and higher demand for heating oil brought on by colder temperatures in the northern states, "but not on this level," she added.

Elsewhere in San Diego County, the average cost was $1.748 in Chula Vista, $1.772 in Del Mar, $1.729 in Escondido and $1.775 in Oceanside.

Thorp urged consumers to shop aggressively for the best price on gasoline, look for ways to limit gasoline consumption and keep vehicles properly maintained to increase fuel economy.

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