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Average San Diego County gas price rises for seventh time in eight days

Posted at 8:27 AM, Feb 08, 2022
and last updated 2022-02-08 11:28:00-05

SAN DIEGO (CNS) - The average price of a gallon of self-serve regular gasoline in San Diego County rose to its highest amount since Oct. 11, 2012, Tuesday because of higher oil prices and refineries beginning to ship summer blend gasoline, which is more expensive to produce.

The average price rose for the seventh time in eight days, increasing nine-tenths of a cent to $4.688, according to figures from the AAA and Oil Price Information Service. It has increased 6.4 cents over the past eight days. The average price rose six consecutive days, then was unchanged on Monday.

The average price is 6.1 cents more than one week ago, 6 cents higher than one month ago and $1.209 greater than one year ago.

The price of a barrel of West Texas intermediate crude on the New York Mercantile Exchange has risen $16.11 since New Year's Day to $91.32, its second-highest settlement value since 2014.

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

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.