Calif. gas prices hit all-time high

Calif. gas prices hit all-time high

Calif. gas prices hit all-time high

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Associated Press

Posted on October 6, 2012 at 12:30 PM

Updated Sunday, Oct 7 at 8:01 AM

LOS ANGELES (AP) — It's a record, though just barely. The price of gasoline has hit an all-time average high in California of $4.6140 a gallon, fueled by a reduced supply and a volatile market.

AAA spokesman Michael Green says Saturday's price set the record by a fraction of a penny.

The previous high was $4.6096 on June 19, 2008.

Prices throughout the state are expected to increase for several more days before leveling off, after a temporary reduction in supply triggered a price spike.

AAA's Daily Fuel Gauge report released Saturday said the average price for a gallon of regular unleaded across California rose 12 cents from its Friday mark of about $4.49.

The Golden State has leapfrogged Hawaii as the state with the most expensive fuel.

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