Average price of gallon of gas in county continues to rise
Previous record was $4.63, set in June 2008
Price for gas at the Costco in San Marcos on Friday.
(Photo courtesy: F. Kit / 10News)
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Last Updated: 423 days ago
SAN DIEGO - The average price of a gallon of self-serve regular gasoline in San Diego County rose to $4.712 on Sunday, up from $4.674 on Saturday.
Sunday's price increased 3.8 cents from Saturday, according to figures from the AAA and Oil Price Information Service. It is 55.8 cents more than a week ago, 55.4 cents higher than a month ago and 91.3 cents greater than at this time last year.
Sunday and Saturday's prices follow the previous record, which was $4.63, set on June 19, 2008.
The record prices are the result of wholesale markets going "into a panic about the adequacy of California fuel supplies," following a power failure at the ExxonMobil Torrance Refinery and closure of a Chevron pipeline that moves crude oil to Northern California Monday, said Jeffrey Spring of the Automobile Club of Southern California.
The Monday incidents followed local refineries dropping production levels, exporting supply to Mexico and other countries, and allowing inventory to dwindle in anticipation of switching over to production of winter blend gasoline, Spring said.
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Copyright 2012 Scripps Media, Inc. City News Service contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.