SAN DIEGO (CNS) – The average price of a gallon of regular self-serve gasoline in San Diego County rose by a tenth of a hundred on Saturday to $ 4.385, a day after a streak ended five-day increases while it was unchanged.
The average price is at its highest level since October 23, 2012, and 2.9 cents more than a week ago, 3 cents more than a month ago and $ 1,199 more than a week ago. is one year old, according to AAA and Oil Price Information figures. Service.
“Because (OPEC) and OPEC + remain very disciplined about how much output member states will produce each month, prices will most likely remain high for much of the fall,” said Jeffrey Spring, head of communications. of the Automobile Club of Southern California, referring to the Organization of the Petroleum Exporting Countries and the Russian-led group of petroleum producers known as OPEC +.
“Some of the blame can go to the rising cost of doing business anywhere, including rising labor and rent costs. But much of the increase in gas prices is due to high oil prices. “
OPEC and OPCE + agreed on Monday to maintain their schedule of increasing oil production by 400,000 barrels per day each month. With the possibility of doubling the increase to 800,000 barrels per day coming to an end, the price of a barrel of West Texas Intermediate crude rose on the New York Mercantile Exchange to its highest level since 2014.
Crude oil costs are just over half the price at the pump, according to the US Energy Information Administration.