San Diego Gas Prices Rise Again
Thursday, May 14, 2009
SAN DIEGO The average price of a gallon of self-serve regular gasoline in San Diego County increased for the 10th consecutive day, rising 1.8 cents today to $2.47.
The average price is 8.9 cents higher than a week ago and 11.9 cents higher than last month, but $1.47 less than at this time last year and $2.15 less than the record high of $4.63 set last June 19, according to figures provided by the AAA and Oil Price Information Service.
"Oil industry analysts say this spike is mostly driven by investor anticipation that demand will increase this summer and the fact that China has been purchasing additional crude oil," said Jeffrey Spring of the Automobile Club of Southern California.
"But the analysts are seeing that demand from consumers locally and throughout the U.S. has remained flat, and supply continues to be good, so this could be an unsustainable price surge," he said.