The average price of a gallon of self-serve regular gasoline in the Inland Empire set a Labor Day record today of $4.142, erasing the previous record of $3.93 set last year.
Gas prices continue to climb in Riverside County. (photo courtesy of Flickr)
Analysts attribute the record to the Aug. 6 fire at the Chevron refinery in Richmond, which reduced its refining capacity and supplies.
The all-time record in Riverside and San Bernardino counties is $4.614 set on June 22, 2008 when investors were bidding up the price for crude oil to a record high as the dollar was declining in value.
The average price rose one-tenth of a cent today, the 11th consecutive daily increase, and is 2.9 cents more than a week ago, 32.3 cents higher than one month ago and 23.4 cents greater than one year ago, according to figures from the AAA and Oil Price Information Service.
The average price has risen 4.5 cents during the streak of increases, including two-tenths of a cent on Sunday, and is at its highest amount since June 7.
Loading ...
I think reducing refining capacity is not only the reason to rise gas price .
Prices