The average price of a gallon of self-serve regular gasoline in San Diego County rose 5.6 cents Monday, to $5.383 — its 18th record high in the past 20 days.
The average price rose 11.1 cents Saturday and recorded its second- largest increase since July 14, 2015, rising 11.2 cents on Sunday, according to figures from the AAA and Oil Price Information Service.
The average price has risen 32 of the past 35 days, increasing 75.9 cents. It is 53.6 cents more than one week ago, 70.4 cents higher than one month ago and $1.592 greater than one year ago.
Oil industry analysts attribute the price spike to the possibility of a supply shortage because traders, shippers, insurance companies and banks are avoiding Russian oil transactions for fear of running afoul of Western sanctions.
The price spike "is not exactly surprising — it is the cost of choking off Russia from energy revenue," said Patrick De Haan, head of petroleum analysis for GasBuddy, which provides real-time gas price information from more than 150,000 stations.
