The typical value of a gallon of self-serve common gasoline in San Diego County rose to a document excessive Sunday for the ninth consecutive day, growing 2.1 cents to $6.25.
The typical value has elevated for 10 straight days, rising 22.2 cents, together with 4.5 cents Saturday, in accordance with figures from the AAA and the Oil Worth Info Service. It’s 18.2 cents increased than one week in the past, 44.3 cents multiple month in the past and $2.041 better than one yr in the past.
The typical value has risen $1.484 since Russia’s invasion of Ukraine on Feb. 24 “despatched shock waves by means of the oil market which have saved oil prices elevated,” stated Andrew Gross, an AAA nationwide public relations supervisor.
Crude oil prices account for barely greater than half of the pump value, in accordance with the U.S. Power Info Administration.
The remainder of the worth consists of the opposite parts of gasoline, manufacturing prices, distribution prices, overhead prices for all concerned in manufacturing, distribution and gross sales, taxes and carbon offset charges in California paid by the refineries.
The nationwide common value rose 2.9 cents to a document $4.848, its ninth consecutive document.
Excessive demand for journey heading into summer season and continued considerations about international and native provide of gasoline will proceed to place upward stress on pump costs, in accordance with Doug Shupe, the Vehicle Membership of Southern California’s company communications supervisor.
Metropolis Information Service contributed to this text.