SAN DIEGO (CNS) – The average price of a gallon of self-serve gasoline in San Diego County rose Saturday for the eighth time in nine days, following a run of 59 decreases in 63 days totaling 75.8 cents.
The average price rose three-tenths of a cent to $2.819, according to figures released by the AAA and Oil Price Information Service Saturday. It has increased 4.4 cents over the past nine days, including four-tenths of a cent on Friday.
The average price is 2.9 cents more than one week ago but 4.6 cents less than one month ago and $1.218 lower than one year ago. It has fallen 78.3 cents since the start of the year.
“Vehicle traffic in Southern California has increased incrementally over the past few weeks, and refineries are still producing gasoline at a much lower rate compared to last year to help draw down inventory,” said Jeffrey Spring, the Automobile Club of Southern California’s corporate communications manager.
“Combine these trends with an increase in oil prices, and the result is that gas prices changed course over the past week and increased.”
Refineries decreased production because “demand evaporated in late March and April” as driving reduced because of Gov. Gavin Newsom’s stay-at-home order, Spring said.
“If refiners had continued at higher capacity that they were running at, they would have soon run out of storage capacity, because few people were buying gasoline,” Spring told City News Service. “Reduced production reduces inventory and helps to balance out the system.”