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This city simply recorded the U.S.’s highest-ever average gasoline price last Updated: Oct. 30, 2021 in ~ 12:57 p.m. ET first Published: Oct. 28, 2021 at 12:20 p.m. ET

petrol prices in the san Francisco bay Area might rise come an median of practically $5 a gallon if oil manufacturing doesn’t record up through a increase in demand, claims GasBuddy. Karen Bleier/Agence France-Presse/Getty photos
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Prices for petrol in one of nation’s major cities reached an all-time top top Thursday— the highest possible average price ever before recorded in the united States, according to fuel savings platform GasBuddy.

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Average prices because that the fuel in the san Francisco metro area reached a brand-new all-time high the $4.75 a gallon, breaching the previous record of $4.743 that was set in 2012, GasBuddy report Thursday.

““The only Area simply recorded the country highest ever average price of petrol in the united States.””

— Patrick DeHaan, GasBuddy

“The just Area just recorded the nation’s highest ever before average price of gasoline in the united States,” claimed Patrick De Haan, head of petroleum experts at GasBuddy. “Thanks to myriad challenges, obtained from the COVID-19 pandemic, the median fillup now prices motorists in the bay Area virtually $62.”

That’s a nearly 65% premium to the typical price in the cheapest U.S. City, Lawton, Oka., whereby the median is at $2.86 a gallon, he said.


GasBuddy characteristics the move greater for petrol prices in the area mainly to hefty rains, which caused some refinery outages, as well as the greatest oil price in over seven years “due come a emerging energy crunch,” and a rise in need that has surpassed global oil supplies.

Read: Why oil traders to speak this an essential crude delivery allude looks ‘basically empty’

U.S. Benchmark West Texas intermediate crude CL.1, -2.13% CLZ21 experienced its front-month futures contract cleared up at $84.65 a barrel top top Tuesday, the greatest settlement price because Oct. 13, 2014, follow to Dow Jones market Data. Also on Tuesday, gasoline futures RBX21 settled at $2.517 a gallon, the highest possible price due to the fact that Sept. 30, 2014.

In January, GasBuddy predicted a 2021 height for san Francisco prices in the $3.85 come $4.25 range, but to watch prices almost 90 cents greater than the short side the that range offers a “sign of how difficult a year it’s been to anticipate all the wildcards that have led mountain Francisco and, potentially, more areas the California, to increase to document levels,” De Haan called

When retail gasoline prices increased to similar high level in 2012, the was a short-lived situation carried on by a refinery fire, he said. “My concern here is that even after refineries get back online ~ a deluge of rain, prices might remain close to or at record levels many thanks to the continued rise of the price of oil.”

“The pain in ~ the pump has never been this bad,” yet prices can eventually increase to nearly $5 every gallon in the only Area if oil production doesn’t capture up come the worldwide rise in demand, that said. And also a additional price climb ahead that the holidays might lead to a “record high starting point because that 2022,” that added.

On Thursday, the nation’s mean price for consistent gasoline stood in ~ $3.388 a gallon, up 21 cents from critical month and up nearly $1.25 native a year ago, GasBuddy data show. The highest recorded mean for the U.S. As a whole was set on July 16, 2008 at $4.103.

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Still, san Francisco’s document gasoline price aren’t almost everywhere near as bad as the fuel’s price in Hong Kong, where the median is approaching $10 a gallon, according to GasBuddy.