Price to Fill Up is Climbing Up Again

The average price of a gallon of self-serve regular gasoline in Inland Southern California rose today for the sixth consecutive day, increasing 1.7 cents to $3.711.

One week ago, the average price in Riverside and San Bernardino counties fell to its lowest amount since Jan. 4.  Then the price began a march upward and increased 5.6 cents over the next six days, including six-tenths of a cent on Tuesday, according to figures from the AAA and Oil Price Information Service.

The six consecutive daily increases, which began after 52 consecutive
days of price drops, have pushed the average price 4.7 cents above what it was
one week ago. However, it is 23.4 cents less than one month ago and 7.7 cents
lower than one year ago.

The rising pump prices are the result of higher crude oil prices, according to Jeffrey Spring of the Automobile Club of Southern California.

The price of a barrel of benchmark West Texas Intermediate crude on the
New York Mercantile Exchange rose Tuesday for the fifth consecutive day,
increasing 79 cents to $89.22, its highest settlement price since May 29. The
five-day streak of increases is the longest since April 27. Crude oil costs account for two-thirds to three-quarters of the price of a gallon of gasoline, said Tupper Hull of the Western States Petroleum Association, a trade association representing oil companies in six western states.
— City News Service