Community Corner
Gas Prices Continue to Climb
The least expensive gallon of regular in Newport Beach costs about $3.40.
Despite healthy inventories, gas prices continued to climb over the past week because of investor speculation and unrest in Egypt.
During this time of year, gas prices typically drop, but instead the average cost of a gallon of gas climbed 3.3 cents in Orange County, according to the Automobile Club of Southern California’s Weekend Gas Watch.
The cost of a gallon of regular gas is roughly 44 cents more than it was at this time last year.
“Investors anxious about the political upheaval in Egypt pushed oil and wholesale gasoline prices high at a time when they should be dropping because of healthy inventories and the upcoming end of the ‘winter gasoline’ season,” said Auto Club spokesperson Jeffrey Spring.
In Newport Beach, the average cost of a gallon of regular was about $3.48 as of Sunday morning, with the least expensive gallon of regular costing about $3.40, according to motortrend.com.
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