California Gas Prices Equal All-Time High
LOS ANGELES (CBS/AP) - The price of gasoline has reached the all-time high in California of $4.61 a gallon.
AAA's Daily Fuel Gauge report released early Saturday 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.
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Analysts have said 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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