The average price of a gallon of self-serve regular gasoline in Riverside County rose another 3.3 cents Sunday to $6.203, hitting a record high for the ninth consecutive day.
The average price has risen for 10 consecutive days, increasing 22.7 cents, including 4.7 cents Saturday, according to figures from the AAA and the Oil Price Information Service. It is 18 cents more than one week ago, 43.7 cents higher than one month ago and $2.042 greater than one year ago.
The average price has risen $1.488 since Russia’s invasion of Ukraine on Feb. 24 “sent shock waves through the oil market that have kept oil costs elevated,” said Andrew Gross, an AAA national public relations manager.
Crude oil costs account for slightly more than half of the pump price, according to the U.S. Energy Information Administration. The rest of the price includes the other components of gasoline, production costs, distribution costs, overhead costs for all involved in production, distribution and sales, taxes and carbon offset fees in California paid by the refineries.
The national average price rose 2.9 cents to $4.848, its ninth consecutive record.
High demand for travel heading into summer and continued concerns about global and local supply of gasoline will continue to put upward pressure on pump prices, according to Doug Shupe, the Automobile Club of Southern California’s corporate communications manager.