Gas Prices Soar 10 Cents A Gallon In San Francisco In A Single Day
SAN FRANCISCO (CBS SF) -- If you waited until Sunday to fill up your tank of gas, you will be in for an unpleasant surprise when you pull up to the pumps across the San Francisco Bay Area.
According to the price trackers at AAA of California, the average price of a gallon of regular unleaded rose from $5.30 to nearly $5.41 in San Francisco in just 24 hours this weekend. A week ago, the average price was $4.869 a gallon.
And it wasn't just regular unleaded. Mid-grade unleaded went from $5.38 to $5.51 in 24 hours, premium jumped from $5.53 to $5.66 and diesel wasn't to be left out going from $5.47 to $5.58.
"This is a milestone that was hard to imagine happening so quickly, but with bipartisan support of severe sanctions on Russia, is not exactly surprising – it is the cost of choking off Russia from energy revenue," said Patrick De Haan, head of petroleum analysis for GasBuddy. "As Russia's war on Ukraine continues to evolve and we head into a season where gas prices typically increase, Americans should prepare to pay more for gas than they ever have before. Shopping and paying smart at the pump will be critical well into summer."
GasBuddy officials expect that gasoline prices will continue to rise in the days ahead, and could be just days away from setting a new all-time record high and continuing to rise through summer.
Seasonal factors including increased demand for gas, refinery maintenance and the switch to summer blend gas, on top of current geopolitical tensions, could propel prices upward.
Nationally, Gasbuddy officials said, Friday's daily rise of 15.8 cents per gallon was also the second largest daily increase ever, coming close to the record of 18.1 cents per gallon set as Hurricane Katrina tore through the Gulf 17 years ago.
Vanesa Meraz just moved to California from Arizona where gas prices are significantly lower. She said she had sticker-shock when she arrived.
"I just figured when I was driving on my way down here that it was just kind of, like, highway prices," Meraz said. "But once I got here, it just kept going up and up and up."