Calif. gas prices equal all-time high; prices might still rise before falling next week
LOS ANGELES, Calif. - 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.
Analysts say California gas price increases are expected to continue for at least several more days before levelling 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.