Biden points fingers at the oil companies for record high prices

SAN DIEGO (KUSI) -The average price of a gallon of self-serve regular gasoline in San Diego County dropped six-tenths of a cent to $6.367 Thursday after rising 19 times in 20 days and setting 18 records in 19 days.

The average price increased 35.5 cents over the previous 20 days, including three-tenths of a cent Wednesday, according to figures from the AAA and the Oil Price Information Service. It rose 17 consecutive days then dropped two-tenths of a cent Monday and rose seven-tenths of a cent Tuesday.

The average price is 4.1 cents higher than one week ago, 40.9 cents more than one month ago and $2.146 greater than one year ago. It has risen $1.611 since Russia’s invasion of Ukraine on Feb. 24 “sent shock waves through the oil market that have kept oil costs elevated,” said Andrew Gross, an AAA national public relations manager.

“a time of war, refinery profit margins well above normal being passed directly onto American families are not acceptable​,” Biden wrote in a letter to Exxon Mobil CEO Darren Woods.

Charles Langley, Executive at Public Watchdogs, joined KUSI’s Logan Byrnes on  “Good Evening San Diego” to talk more about the record high gas prices.

Categories: Good Evening San Diego, Local San Diego News