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Average San Diego County gas price rises to record for eighth consecutive day

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Posted at 8:34 AM, Jun 04, 2022
and last updated 2022-06-04 11:34:11-04

SAN DIEGO (CNS) - The average price of a gallon of self-serve regular gasoline in San Diego County rose Saturday to a record for the eighth consecutive day, increasing 4.5 cents to $6.219, its ninth consecutive increase.

The average price has risen 20.1 cents over the past nine days, including 3.8 cents Friday, according to figures from the AAA and the Oil Price Information Service. It is 17.3 cents higher than one week ago, 42.3 cents more than one month ago and $2.017 greater than one year ago.

The average price has risen $1.463 since Russia's invasion of Ukraine on Feb. 24 "sent shock waves through the oil market that have kept oil costs elevated," said Andrew Gross, an AAA national public relations manager.

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

The rest of the price includes the other components of gasoline, production costs, distribution costs, overhead costs for all involved in production, distribution and sales, taxes and carbon offset fees in California paid by the refineries.

The national average price rose 5.2 cents to a record $4.861, its eighth consecutive record and increase and 11th in 12 days. It has increased 22.6 cents over the past 12 days, including 4.9 cents Wednesday, 4.4 cents Thursday and 4.6 cents Friday. The national average has set records 23 of the past 26 days.

High demand for travel heading into summer and continued concerns about global and local supply of gasoline will continue to put upward pressure on pump prices, according to Doug Shupe, the Automobile Club of Southern California's corporate communications manager.