SAN DIEGO COUNTY, CA – The average price of a gallon of regular self-serve gasoline in San Diego County rose on Wednesday to its highest level since October 23, 2012, with further increases expected.
The average price rose six-tenths of a cent to $ 4.378, a day after rising eight-tenths of a cent, according to figures from the AAA and the Oil Price Information Service. This is 2.5 cents more than a week and a month ago and $ 1.189 more than a year ago.
The average price has risen by $ 1,151 since the start of the year due to higher oil prices and increased demand for gasoline following the end of restrictions linked to the pandemic.
The price of a barrel of West Texas midsize crude rose Tuesday on the New York Mercantile Exchange to $ 77.62 a barrel, its highest since 2014, in continued response to OPEC and a group of producers run by Russia who agreed on Monday to maintain their schedule of increasing oil production by 400,000 barrels per day each month instead of doubling the increase to 800,000 barrels per day as some in the industry had speculated.
Crude oil costs are just over half the price at the pump, according to the US Energy Information Administration.
San Diego County’s record gas price is $ 4.725 set on October 8, 2012.
– City information service