Gas Prices Jump 42 Cents Since Last Month, Continue to Spike
The price of gas is still going up in San Diego. The Utility consumer's Action Network reports the average price for a gallon of regular is $4.33. U-CAN’s Charles Langley says that’s up 42 cents from last month, and a dollar a gallon more than the price a year ago. Langley says the short term outlook is not favorable for motorists.
Langley : Our calculations on what an independent dealer has to charge for gas are $4.60, which is 28 cents more than the local average. And whenever we see that type of inversion, it’s called a rack inversion, it’s usually a sure sign that gas prices are going to go up and go up very quickly.
Langley says prices typically plateau after Memorial Day and then they gradually ease back down. He says that doesn’t appear to be the case this year.
Langley says there is a small bit of good news, this week. Diesel prices dropped a couple of cents a gallon since last Friday. That fuel now costs $5.05.
