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The average price of regular gasoline in San Diego County tops $5 for the first time –

SAN DIEGO (KUSI) – The average price of a gallon of regular self-service gasoline in San Diego County exceeded $ 5 for the first time on Friday, thanks to the largest daily increase since July 13, 2015, rising 12.9 cents to $ 5,104.

Good morning San Diego, KUSI’s Allie Wagner was out on Hillcrest where gas is close to $ 6 / gallon for premium gas, the most expensive gas in San Diego County.

The average price rose 29 of the last 32 days, rising by 48 cents, including 8 cents on Thursday, according to data from the Oil Price Information Service and AAA. It is 29.2 cents more than a week ago, 43.8 cents higher than a month ago and 1,353 cents higher than a year ago.

Oil industry analysts attribute the price increase to the possibility of a shortage of supply, as traders, charterers, insurance companies and banks shun Russian oil fears that they could run counter to Western sanctions.

The end of the price spike “largely depends on global events and oil prices, as well as California gas supply issues that often tend to occur during the spring months,” said Marie Montgomery, a public relations specialist at Automobile Club of Southern California. .

Later in the morning, Patrick De Haan, head of oil analysis at Gas Buddy, worked with KUSI to see what his forecasts for gas prices would be in the next month or two.

He predicts that the price of gas will be around $ 5.50 “in the next month or two.”

The cost of crude oil represents just over half the price of the pump, according to the US Energy Information Administration. The rest of the price includes other gasoline items, production costs, distribution costs, overheads for all those involved in production, distribution and sales, California coal compensation taxes and fees paid by refineries.

The price of Brent crude oil for May delivery on the Intercontinental Exchange fell $ 2.47 to $ 110.46 on Thursday, a day after rising to its highest settlement value since June 27, 2014, $ 112.93. Brent crude is the world’s benchmark for oil, accounting for about 80% of the world’s crude oil.



The average price of regular gasoline in San Diego County tops $5 for the first time – Source link The average price of regular gasoline in San Diego County tops $5 for the first time –

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