Gas Prices Break $4, Increased Past 12 Days

The average price of a gallon of self-serve regular gasoline in the Inland Empire reached its highest amount since May 28 today, increasing 2.6 cents to $4.027.

The average price in Riverside and San Bernardino counties has risen for 12 consecutive days and is 19.2 cents more than one week ago, 31.4 cents higher than a month ago and 50.7 cents greater than a year ago, according to figures from the AAA and Oil Price Information Service.

The average price has risen 25.4 cents over the past 12 days, including 4.8 cents on Saturday.

Analysts have cited increasing oil prices and the closure of some California refineries for maintenance as reasons for the rising gasoline prices.

Crude oil costs account for two-thirds to three-quarters of the price of a gallon of gasoline, according to Tupper Hull of the Western States Petroleum Association, a trade association representing oil companies in six western states.