Average ​Gas Price Sets 18th Record In 20 Days In San Diego Area

San Diego CA

07 March, 2022

2:45 PM

Description

SAN DIEGO COUNTY, CA — The average price of a gallon of self-serve regular gasoline hit another record high Monday in San Diego County. The average price increased 5.6 cents to $5.383, the 18th record high in the past 20 days, according to figures from the AAA and Oil Price Information Service. The average price was $5.327 Sunday, $4.847 one week ago, $4.679 one month ago, and $3.791 one year ago. The average price of a gallon of self-serve regular gasoline in California was $5.343 Monday, while the average national price was $4.065, according to AAA. 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. City News Service contributed to this report.