Community Corner
Gas Prices Spike
Imported crude is trading at $100 or more per barrel, according to the Auto Club.
Gas prices went from a steady climb to a dramatic spike over the last week.
Local prices jumped by nearly a dime in the year’s biggest single week of gas price hikes, according to the Automobile Club of Southern California’s Weekend Gas Watch.
“Imported crude oil is trading at $100 a barrel or more right now, and California refineries are using more imported oil as Alaska oil production has dropped,” said Auto Club spokesperson Jeffrey Spring. ”Concerns about worldwide inflation as well as unrest in the Middle East are combining to push foreign oil and local gas prices higher.”
In Orange County, the average price of a gallon of regular over the last week gas was about $3.50—8.9 cents more than the week before. As of Sunday morning, the average price of a gallon of regular in Newport Beach was about $3.59, which is about 10 cents higher than last week.
The least expensive gallon of regular in Newport cost about $3.48 at Beacon Bay, according to Motortrend. For more Newport Beach gas prices, go here.
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