Fuel Prices Climb 20 Cents Overnight in Some Parts of California

The fuel price spikes come after a dramatic increase in wholesale prices for fuel

By Jonathan Lloyd and Lauren Steussy
|  Friday, Oct 5, 2012  |  Updated 9:30 PM PDT
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For San Diegans the average price per gallon went up another 20 cents overnight - drivers aren't waiting around to fill up. NBC 7 reporter Steven Luke talked to some frustrated drivers.

For San Diegans the average price per gallon went up another 20 cents overnight - drivers aren't waiting around to fill up. NBC 7 reporter Steven Luke talked to some frustrated drivers.

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Gas Price Spike Shocks Motorists

Gas prices in San Diego rose near 20 cents overnight Friday, much to the disappointment of local motorists, who herded to the pump Friday afternoon.

Gas Prices Jump Dramatically

The largest single-day gas price increase happened in San Diego and James Hamilton, a UCSD economics professor, explains how it will impact local drivers.
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Gas prices in California skyrocketed overnight in some areas, the price for a gallon of regular climbing in San Diego from nearly $4.33 to $4.52 overnight.

The figures from AAA's Daily Fuel Gauge report show the average price of a gallon of fuel across the state at $4.49 per gallon. That's the highest in the country.

One San Diego consumer said he spent $150 at the pump Friday morning to fill his car with a premium blend. Another said he spent $80 just to fill his car with a quarter-tank.

Prices in Los Angeles were similarly sky-rocketing, jumping 19 cents per gallon to $4.54

In San Francisco, a gallon of regular gas is nearly $4.60 after Thursday's average of $4.43.

The highest recorded average price for a gallon of regular fuel in California was $4.61 in June 2008. The average price for a gallon of regular fuel one year ago in California was $3.818.

The price spikes come after a dramatic increase in wholesale prices for fuel.

 

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