San Diego County gasoline price rises - San Diego, California News Station - KFMB Channel 8 - cbs8.com

San Diego County gasoline price rises

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SAN DIEGO (CNS) - The average price of a gallon of self-serve regular gasoline in San Diego County rose three-tenths of a cent Sunday to $4.096.

The increasing pump prices follow "a bit of movement" of wholesale prices late last week stemming from fears of an interruption of oil shipments from Iraq caused by advances by Sunni militants from the Islamic State of Iraq and Levant, Marie Montgomery of the Automobile Club of Southern California told City News Service.

California refineries receive about 9 percent of their crude oil from Iraq, Montgomery said.

"That's significant enough to make an impact, but it's certainly possible other foreign (and) domestic sources will be able to replace it fairly quickly," Montgomery said.

The overnight hike was the second consecutive increase after decreasing eight times in nine days to its lowest amount since April 7.

The average price is 1.5 cents less than one week ago and 7.7 cents less than one month ago, but 10.2 cents more than one year ago, according to figures from the AAA and Oil Price Information Service.

The increasing pump prices follow "a bit of movement" of wholesale prices late last week stemming from fears of an interruption of oil shipments from Iraq caused by advances by Sunni militants from the Islamic State of Iraq and Levant, Marie Montgomery of the Automobile Club of Southern California told City News Service.

California refineries receive about 9 percent of their crude oil from Iraq, Montgomery said.

"That's significant enough to make an impact, but it's certainly possible other foreign (and) domestic sources will be able to replace it fairly quickly," Montgomery said.

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