Sacramento-area gas prices surge 5.5 cents in a week

Published: Monday, Jul. 15, 2013 - 1:52 pm

After falling nearly a dime during the Independence Day holiday period, Sacramento-area gasoline prices surged 5.5 cents over the past week.

The average retail price of gas in the Sacramento area is $3.84 a gallon, according to today's weekly report by national price tracker, which surveys 720 stations in the area.

Area prices are now 25.1 cents higher than one year ago but 0.8 cents per gallon lower than a month ago.

Nationally, the average price of gas spiked 11.7 cents over the past week to $3.62 a gallon - 19.5 cents higher than a year ago and up 0.4 cents from last month.

"I suspect that the unrest in Egypt is playing a significant role in pushing crude values higher, and thus retail gasoline prices higher as well," said Patrick DeHaan, senior petroleum analyst for GasBuddy.

He added: "The market is seemingly quite sensitive to the situation in Egypt as the Energy Information Administration has reported two consecutive weeks of large declines in crude oil inventories, drawing concern that a loss in Middle Eastern crude would mean continued declines in inventories stateside."

Call The Bee's Mark Glover, (916) 321-1184.

Read more articles by Mark Glover

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