Gas Prices Climb for a Seventh Week
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Pump prices in California jumped 4.7 cents in the last week to an average of $1.868 a gallon for self-serve regular, marking the seventh consecutive weekly increase, according to a federal survey released Tuesday.
The steady climb in retail gasoline prices -- up 27.3 cents so far in 2004 -- is uncomfortably similar to the increases that led up to last year’s record-high fuel prices in California.
At this time last year, statewide gas prices averaged $1.862 a gallon, up 33 cents from the beginning of 2003, according to figures from the Energy Information Administration, an arm of the Energy Department. The statewide average hit a record $2.145 a gallon March 17, bolstered by refinery outages and high crude oil costs.
Crude oil prices are lower today than they were a year ago, and refinery outages have been minimal. A rebounding economy and short supplies have been blamed for high fuel prices, according to the Automobile Club of Southern California.
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