The average price of a gallon of self-serve regular gasoline in San Diego County rose Wednesday to its highest amount since April 25, 2024, increasing 4.2 cents to $5.359.
The average price has risen 21 consecutive days, increasing 75.2 cents, including 8.5 cents on Tuesday, according to figures from the AAA and Oil Price Information Service. It is 55.2 cents more than one week ago, 78.3 cents higher than one month ago and 66.3 cents greater than one year ago.
On Wednesday, the International Energy Agency (IEA) announced member nations would release 400 million barrels from strategic oil reserves as the war in Iran disrupts energy markets.
Kenneth Medlock, senior director of the Center for Energy Studies at Rice University, told the Associated Press the release of reserves will calm markets and prevent wild price swings and could lead to lower prices at the pump in the next week or so.
Despite the recent increases, the average price is $1.076 less than the record $6.435 set on Oct. 5, 2022.
The national average price rose to its highest amount since May 28, 2024, increasing 3.9 cents to $3.578. It has risen 11 consecutive days, increasing 59.6 cents, including 6.1 cents on Tuesday.
The national average price is 38 cents more than one week ago, 64.1 cents higher than one month ago and 49.7 cents greater than one year ago. It is $1.438 less than the record $5.016 set on June 14, 2022.
