The average price of a gallon of self-serve regular gasoline in San Diego County has increased nearly $1.25 in a month, according to figures from the AAA and Oil Price Information Service.
After 34 days of straight increases, the average price of gas rose Tuesday to its highest amount since Oct. 10, 2023, at $5.89.
The average price is 28.2 cents more than one week ago, $1.236 higher than one month ago and $1.225 greater than one year ago. It is 54.5 cents less than the record $6.435 set on Oct. 5, 2022.
Diesel prices, which affect most commercial vehicles, are up 44.2 cents in a week and 2.094 in a year for California buyers, according to the U.S. Energy Information Administration. In San Diego, the current average price for a gallon of diesel fuel was about 3 cents shy of $7. That price is up nearly $2 in a month.
The increase has business owners like dairy farmer Frank Konyn watching their bottom line.
“That green tractor that drove by, that tractor is burning 8-12 gallons per hour just itself,” Konyn said. He does not have plans to pass costs on to the consumer due to regulations in the industry, so “The best thing we can do right now is hope for a speedy resolution.”
“We would like to cross our fingers and hope that within the next 2 or 3 weeks this issue in the Middle East is resolved and that we don’t have to go through,” he said.
Prices were rising slightly in line with seasonal norms before the joint U.S./Israel attack on Iran on Feb. 28 sent oil prices higher and drastically accelerated increases at the gas pump.
The national average price rose to its highest amount since Aug. 12, 2022, increasing 2.1 cents to $3.977. It has risen for 24 consecutive days, increasing 99.5 cents, including 1.4 cents on Monday.
The national average price is 18.7 cents more than one week ago, $1.026 higher than one month ago and 84.9 cents greater than one year ago. It is $1.039 less than the record $5.016 set on June 14, 2022.
“Yesterday’s market selloff is going to (at least) give a pause to rising gasoline prices and gives some price cycling states more breathing room before next potential jumps,” Patrick De Haan, head of petroleum analysis at GasBuddy, which provides real-time gas price information from more than 150,000 stations, wrote on social media Tuesday.
“It’s going to be extremely close if the national average hits $4 this week– or if it waits.”