San Diego County Current Gasoline Price Rise for Sixth Straight Day

San Diego County’s average gasoline price today reflects a rise for the sixth straight day, with an increase of $0.012 to $3.732 per gallon.

The average self-serve regular gas dropped last week to a low not seen since the 4th of January. It then gained $0.056 in the six days following that decline, including a rise of $0.009 yesterday, according to data from the Oil Price Information Service and the AAA.

The daily increases for six straight days brought the gasoline price today to a rate that is higher by $0.053 compared to the past week. However, the current gas price is still lower by $0.216 compared to last month and $0.073 versus the past year.

The recent price gains, which started after a price drop for 56 out of 57 days, were caused by higher prices of crude oil according to Jeffrey Spring of Southern Caifornia’s Automobile Club.

In the NYMEX, the oil price per barrel of West Texas Intermediate (WTI) crude recently rose for the fifth straight day, this time by 79 cents to reach $89.22, its peak rate since the 29th of May.

The consecutive increases for five days are the longest since the 27th of April. WTI’s oil price per barrel of $77.69 last June 28 was at its lowest in eight months. After that, the price started to increase.

Tupper Hull said that the crude price per barrel contributes 66 to 75 percent to the current gas prices. Hull’s organization, Western States Petroleum Association, is a trade group that represent oil firms in six states in the West Coast.

By: Chris Termeer