San Diego Gas Prices Continue To Climb Rapidly
Monday, February 20, 2012
Aired 2/20/12 on KPBS News.
San Diego gas prices have never been this high so early in the year. And to make matters worse, the price of fuel jumped dramatically in the past week.
SAN DIEGO San Diego gas prices have never been this high so early in the year, and to make matters worse, the price of fuel jumped dramatically in the past week.
Prices started going up at the beginning of the month, but the increases escalated by about 2 cents a day last week. Charles Langley with the Utility Consumer's Action Network, which tracks local prices, said this is the first time gas prices hit the $4 a gallon mark in February.
"This is the highest level for any gas price on record for San Diego,” Langley said. “And it’s also the highest regular gas price for the year nationally. And that bodes very poorly for the rest of the year."
Langley said gas prices typically rise through the spring and peak in early summer. The record was set in 2008 when the average pump price for a gallon of regular hit $4.65.
He said prices are going up because refineries are starting to switch from their winter blend to cleaner burning summer fuel.
Oil prices are also above $100 a barrel, which Langley said is driving up prices on California's wholesale market.
Some analysts think the price could reach $5 a gallon this year.