Bay Area Gas Prices Up More Than 50 Cents This Month

(CBS SF) – Average gas prices in the Bay Area have skyrocketed in the past month, jumping by 51 cents to $4.41 per gallon, according to a report released this week by AAA.

The increase in local gas prices outpaces the jump in average prices nationwide; AAA officials said that across the country, gas prices rose by 30 cents, to $3.81 per gallon, from February to March.

The region’s average gas price is slightly higher than the state’s, which is $4.36 per gallon.

Autos Section: Tips For Finding The Cheapest Gas

AAA officials, who monitor the prices as a service to consumers, have said increased buying activity by investors in oil and gas futures and political tensions with Iran have pushed prices upward.

San Francisco is among the cities with the highest average prices in the Bay Area at $4.43 per gallon, while Vallejo is among the lowest in the region at $4.31, according to AAA.

The high prices come despite dropping demand for oil—a U.S.

Department of Energy report released last week found that the nation was using 8.36 million barrels a day, the lowest rate since March 2001.

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

  • tn

    This oil / gas price hike happens every single year. The oil companies use the same reasons (either increase claim of domestic or international demand, or Middle East instability every now and then to keep us off-guard) for the price hikes every year. The politicians receive more money from the gas taxes. The oil companies record record profits. Our food and goods prices go up due to the continual rising energy costs. The consumers are left holding their privates.

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