The average price of a gallon of self-serve regular gasoline in Riverside County rose Saturday for the 11th time in 12 days, increasing eight-tenths of a cent to $4.458, its highest amount since Oct. 22, 2012.

The average price has increased 10.6 cents over the past 12 days, including three-tenths of a cent Friday, according to figures from the AAA and Oil Price Information Service.

The average price rose six consecutive days, was unchanged Monday and resumed increasing Tuesday. It is 6.4 cents more than one week ago, 14.5 cents higher than one month ago and $1.331 greater than one year ago.

The rising gas prices are caused by high crude oil prices. The price of a barrel of West Texas intermediate crude for November delivery on the New York Mercantile Exchange rose Friday for the sixth time in seven days, increasing $1.26 to settle at $83.76, its second-highest settlement price of the year, behind only Wednesday’s $83.87 price.

The settlement price has risen for nine consecutive weeks, the longest streak on record. Figures are available back to April 1983.

The crude oil price has increased 134.03% from its 52-week low of $35.79 on Oct. 30, 2020, because of higher demand following the elimination of coronavirus-related restrictions.

Crude oil costs account for slightly more than half of the pump price, according to the U.S. Energy Information Administration.

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