SAN DIEGO — The average price of a gallon of regular gasoline in San Diego County rose 1.7 cents Thursday to just over $3.74, one day after recording its largest increase since 2015.
Wednesday’s 6.7-cent spike was blamed in large part on higher crude oil prices stemming from the weekend drone attacks on two major oil facilities in Saudi Arabia.
The average price has risen 9.9 cents over the past three days and is 10.3 cents more than one week ago, 14.8 cents higher than one month ago and 10.2 cents greater than one year ago, according to figures from the AAA and Oil Price Information Service. It has risen 40.7 cents since the start of the year.
The price of crude oil accounts for two-thirds to three-quarters of the price of a gallon of gasoline, said Tupper Hull, vice president, strategic communications, of the Western States Petroleum Association, a trade association representing major oil companies in five Western states.
Wednesday morning, President Donald Trump said he was ordering a “substantial” increase in sanctions on Iran, which U.S. officials say is likely to blame for the attack.