Palm Springs
103° F
Clear
Clear

Inland Empire average gas price tops $4

Published On: Feb 06 2013 08:20:41 AM CST
Updated On: Feb 06 2013 08:20:00 AM CST
Gas pumps

Pam Roth/SXC

RIVERSIDE, Calif. -

The average price of a gallon of self-serve regular  gasoline in the Inland Empire surpassed $4 for the first time since Nov. 2  today, increasing 3 cents to $4.024.

      The average price in Riverside and San Bernardino counties has increased  11 of the last 12 days, rising 32.4 cents over that span, including 2.1 cents  on Tuesday, according to figures from the AAA and Oil Price Information  Service.

      The average price is 25.7 cents more than one week ago, 39.9 cents  higher than one month ago and 25.1 cents greater than one year ago.

      The increasing prices are the result of high oil prices, Middle East  tension, maintenance at refineries that reduces supplies and investors shifting  their money into the gasoline market "earlier and earlier," according to  Jeffrey Spring of the Automobile Club of Southern California.