Texas Deep Freeze Latest Factor In Rising San Diego Gas Prices

Santee CA

26 February, 2021

11:24 AM

Description

SAN DIEGO COUNTY, CA — The average price of a gallon of self-serve regular gasoline in San Diego County rose Friday for the 18th consecutive day and the 36th time in 37 days, increasing 1.8 cents to $3.693, its highest amount since Dec. 12, 2019. The average price has increased 34.8 cents over the past 37 days, including 1.8 cents on Thursday, according to figures from the AAA and Oil Price Information Service. It is 12.2 cents more than one week ago, 30.9 cents higher than one month ago and 14.9 cents greater than one year ago. The Texas deep freeze is the latest factor in the rising prices following trader activity in the futures markets and rising crude oil prices. "While California refineries receive no oil supply from Texas, they do supplement gasoline supply to Arizona, and the Texas refineries' temporary closure has diverted some California gasoline production to Arizona," said Jeffrey Spring, the Automobile Club of Southern California's corporate communications manager. "This is likely a temporary issue, but since we are in the typical season of local price increases, we'll have to see if local demand will support these higher prices when the crisis is over." — City News Service