Tuesday, March 8, 2011
The average price for a gallon of gas could top $4.00 soon. The Oil Price Information Service and Triple A says San Diego's average price was at $3.92 on Monday afternoon. That's up about 15 cents a gallon in the past week and more than 52 cents in the past month. The price a year ago was about $3.07.
"This is a situation where anxiety or fear seems to be driving much of the run up in prices," said Tupper Hull of the Western States Petroleum Association. "There really isn't a shortage of oil in the world. But there are concern among the folks who buy and trade in that commodity that there could be problems down the road."
The price of gas last topped four dollars a gallon in the summer of 2008. The price peaked at $4.62.