13 Days of Rising Gas Prices

The average price of a gallon of self-serve regular gasoline in San Diego County rose Wednesday for the 13th consecutive day, increasing 1.2 cents to $3.807.

The average price has increased 13.1 cents over the past 13 days, including seven-tenths of a cent on Tuesday, according to figures from the AAA and Oil Price Information Service.

The average price is 7.5 cents more than one week ago, but 1.1 cents less than one month ago and 1.2 cents lower than one year ago.

The rising pump prices are the result of recent increases to the price of crude oil, according to Jeffrey Spring of the Automobile Club of Southern California.

A seven-day streak of increases to the price of a barrel of benchmark West Texas Intermediate crude on the New York Mercantile Exchange had pushed the price to $92.66 on Thursday. The seven-day streak of increases was the longest since Feb. 24.

However, the price dropped $1.22 on Friday and $3.69 on Monday to $88.14, then rose 36 cents on Tuesday to $88.50.

The oil price was at an eight-month low of $77.69 on June 28.

Analysts attributed the oil price fluctuations to concerns over the European economy.

Crude oil costs account for two-thirds to three-quarters of the price of a gallon of gasoline, said Tupper Hall of the Western States Petroleum Association, a trade association representing oil companies in six western states.

The upward trend reversed what had been a stretch of 56 decreases in 57 days which brought the average retail price of a gallon of unleaded regular gasoline in San Diego County down to $3.676 on July 12, its lowest amount since Jan. 4.

-City News Service