San Diego County gasoline price rises slightly - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

San Diego County gasoline price rises slightly

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SAN DIEGO (CNS) - The average price of a gallon of self-serve regular gasoline in San Diego County rose two-tenths of a cent Wednesday, the third increase by that amount in four days.

The average price of $3.982 is the highest since Aug. 17, 2008 and 3.6 cents higher than a week ago, 50.3 cents above what it was one month ago and 90.2 cents greater than it was one year ago, according to figures from the AAA and Oil Price Information Service.

The average price is 64.8 cents less than the record high of $4.63 set on June 19, 2008.

The average price has risen 41 times in the past 43 days, including two-tenths of a cent Sunday and Monday and a half-cent Tuesday.

The smaller gasoline price increases follow decreases in domestic crude oil prices. The price of a barrel of benchmark crude on the New York Mercantile Exchange fell $4 to $97.18 Tuesday because of the possibility of falling demand from Japan following a devastating earthquake and tsunami.

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

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