San Diego County gasoline price surpasses $4 - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

San Diego County gasoline price surpasses $4

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SAN DIEGO (CNS) - The average price of a gallon of self-serve regular gasoline in San Diego County topped $4 for the first time since Nov. 3 Tuesday, increasing 2.3 cents to $4.018.

The average price has increased 10 of the past 11 days, rising 30.7 cents over that span, including 1.4 cents on Monday, according to figures from the AAA and Oil Price Information Service.

The average price is 27.3 cents more than one week ago, 36.8 cents higher than one month ago and 22.5 cents greater than one year ago.

San Diego County is among five regions in the state where the average price is above $4, joining Los Angeles County ($4.033), Ventura County ($4.018), Orange County ($4.015) and San Luis Obispo County ($4.012).

The price hikes result from high oil prices, Middle East tension, California refinery maintenance issues resulting in reduced supplies, and investors shifting their money into the gasoline market "earlier and earlier," according to Jeffrey Spring of the Automobile Club of Southern California.

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