The average price of a gallon of self-serve regular gasoline in Riverside County rose Saturday for the fifth time in six days, increasing 1.8 cents to $4.576, its highest amount since Oct. 17, 2012.
The average price has increased 6.3 cents over the past six days, including 1.6 cents Friday, according to figures from the AAA and Oil Price Information Service. It is 6.3 cents more than one week ago, 21.8 cents higher than one month ago and $1.46 greater than one year ago.
The 2012 figure included stations in San Bernardino County.
The week-to-week increase is higher than the previous two weeks because of two factors, according to Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.
“Our sources tell us that some Southern California refineries have had to do unplanned maintenance in recent days which usually reduces the level of production,” Spring told City News Service.
The other factor is the continued high oil price. The price of a barrel of West Texas intermediate crude on the New York Mercantile Exchange settled at $80.79 on Friday, 101.3% more than its 52-week low of $40.13, which was hit on Nov. 13, 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.