The average cost for gas has officially reached $5 for the first time in the history of San Diego.
California as a state also reached a peak as of today, which displays an increase of 13-cents in just a single day, which has pushed the state to an average of $5.07, an alarming number for the already-increasing cost of gas. The price was slightly worse for San Diego locals, who see an average of up to $5.10 after the 13-cent increase.
According to the AAA, this historic-peak of gas prices is caused by multiple reasons. One of those factors, without any surprise, is rooted by the on-going conflict involving Russia's invasion of Ukraine.
“Crude prices continue to surge as the conflict between Ukraine and Russia continues to bring uncertainty to the market. To help counter the impact of rising oil prices, the International Energy Agency (IEA) has coordinated a release of 60 million bbl of crude oil from its 31 member countries strategic reserves, including the U.S.,” AAA said on Thursday.
“However, the pricing impact from yesterday’s announcement has been limited given that the amount of oil is small in comparison to the amount of oil that flows daily from Russia around the globe.” they added.
Aside from the political events that have impacted gas prices in recent days, the state of California have encountered multiple factors that have contributed to these results, such as the Cap-and-Trade program to start off with, which requires large greenhouse petroleum emitters, such as oil and gas refineries. Also, California is a state that requires particular blends of petroleum to decrease pollution, which is a task that becomes expensive for the state and passed on to consumers.
And unfortunately for south bay locals, the cheapest locations for gas prices are seen all the way north of San Diego at an Arco in Escondido on Grand Avenue, and a Costco located in San Marcos' Center Drive.