San Diego County reached a new record high on Saturday for the average price of self-serve gasoline at $6.024, rising one-tenth of a cent.
Figures from the AAA and Oil Price Information Service show the average price had remained unchanged Friday after increasing for 16 of the previous 17 days, rising 24.4 cents.
Today’s price is 10.8 cents more than one week ago, 27.2 cents higher than one month ago, and $1.864 greater than one year ago.
“The reasons for the increase are not just the (Ukraine) war and some refinery supply issues, but also inflation and competition for resources to produce diesel fuel, which is about 50 cents more expensive than regular unleaded gasoline,'' said Doug Shupe, the Automobile Club of Southern California's corporate communications manager.
“Memorial Day travel will likely add to the demand for gasoline. The Auto Club expects an 11% increase in holiday weekend travel volume compared to last year.''
Gas prices on Memorial Day weekend are forecast to be about $4.65 per gallon, a 51% increase from last year, according to Gas Buddy. The average price from Memorial Day to Labor Day is expected to be $4.40 per gallon nationally, though significant events could raise or lower the outcome.
"Against a backdrop of gas prices that have continued to set new records ahead of Memorial Day, Americans have been resilient in their desire to hit the road, but we're certainly seeing increased hesitancy due to rising prices at the pump. Soaring inflation has led to uncertainty over rising costs,” said Patrick De Haan, head of petroleum analysis for GasBuddy.
The average price of gasoline in California surpassed $6 a gallon for the first time ever, according to AAA. Drivers in the Golden State are currently paying more than drivers anywhere in the country at an average of $6.065 per gallon.
The national average price remained unchanged at a record $4.593.
Gas Buddy recommends for people change how they drive to save some money during record-high price increases. Most vehicles today achieve optimal fuel economy at around 55mph.
According to Gas Buddy applying slow steady acceleration and braking, fuel economy may increase by as much as 25%, saving the equivalent of 50 cents to $1 per gallon.
Gas Buddy also recommends drivers find the best price per gallon online, sign up for loyalty programs through retailers to advantage of discounts available, and review credit card benefits as many offer cashback for gas benefits.
