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October 26, 2021

Internet Business Newswire

Global Business News

Average San Diego County gas price rises to Labor Day record

SAN DIEGO (CNS) – The average price of a gallon of self-serve regular gasoline in San Diego County was at a record high for Labor Day Monday due to increases throughout the year.

The average price of $4.353 broke the previous Labor Day record of $4.15 set in 2012 following a fire at the Chevron refinery in Richmond, which reduced its refining capacity and supplies, according to figures from the AAA and Oil Price Information Service.

The average price has risen $1.122 since the start of the year because of higher oil prices and increased demand prompted by the relaxation of restrictions intended to reduce the spread of the coronavirus.

The average price rose two-tenths of a cent Monday, one day after dropping two-tenths of a cent. It is four-tenths of a cent more than one week and one month ago and $1.123 higher than one year ago.

The all-time record is $4.725 set on Oct. 8, 2012, caused by wholesale markets going “into a panic about the adequacy of California fuel supplies,” following a power failure at the ExxonMobil Torrance Refinery and closure of a Chevron pipeline that moves crude oil to Northern California, Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager, said at the time.