Gas prices inch closer to $4 around San Diego County - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Gas prices inch closer to $4 around San Diego County

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SAN DIEGO (CNS) - The average price of a gallon of self-serve regular gasoline in San Diego County rose Saturday for the eighth consecutive day, increasing seven-tenths of a cent to $3.80.

The average price is 4 cents more than a week ago and 67.3 cents more than at this time last year, but 10.6 cents less than a month ago, according to figures from the AAA and Oil Price Information Service.

This is the first time the average price has risen for eight consecutive days since a similar streak from April 29-May 6. The price had fallen 60 times in the previous 63 days before the streak of increases.

The rising prices are the result of increases to the price of crude oil and wholesale gasoline, stemming from a weaker dollar, according to Jeffrey Spring of the Automobile Club of Southern California.

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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