Average San Diego County gas price rises for 22nd consecutive day
The average price of a gallon of self-serve regular gasoline in San Diego County rose Wednesday for the 22nd consecutive day, increasing 3.3 cents to a record $5.805.
The average price has risen $1.061 during the streak, including six-tenths of a cent Tuesday and three-tenths of a cent both Sunday and Monday, the streak's smallest increases, according to figures from the AAA and Oil Price Information Service.
The average price is 20.3 cents more than one week ago, $1.079 higher than one month ago and $1.915 greater than one year ago.
"It bears reminding that the cost of oil accounts for about 50% of what drivers pay at the pump," said Doug Shupe, the Automobile Club of Southern California's corporate communications manager.
"This war is roiling an already tight global oil market and making it hard to determine if we are near a peak for pump prices, or if they keep grinding higher. It all depends on the direction of oil prices."
The price of a barrel of Brent crude has dropped 21.9% on ICE Futures Europe since rising to $127.98 March 8, its highest amount since July 22, 2008, settling at $99.91 Tuesday, dropping $6.99 for the session.
Brent crude is the global oil benchmark, accounting for approximately 80% of the world's crude oil.