California Gas Prices Equal All-Time High

LOS ANGELES (October 6, 2012)--The price of gasoline tied the all-time high in California of $4.61 a gallon, according to AAA's Daily Fuel Gauge report released early Saturday, which says the average price for a gallon of regular unleaded across California rose 12 cents from its Friday mark of nearly $4.49.

Saturday's price, the highest in the nation, equaled the record for California set in June 2008 price of $4.61.

Analysts say California gas price increases are expected to continue for at least several more days before leveling off.

They say the causes of the surging prices include a power outage Monday at a Southern California refinery that reduced supply as well as an already fragile and volatile market.


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