AAA: Gas prices soar 15 cents in Northern California and Nevada

The February survey from AAA shows pump prices throughout Northern California and Nevada has soared by an average of 15 cents a gallon over last month.
In Northern California the average for a gallon of regular unleaded is $3.83; the average price in Nevada for is $3.51.

Pump prices have gone up in every metro area across Northern California, according to AAA Insurance, which tracks gas prices. In the San Francisco Bay Area, motorists can expect to pay an average price of $3.90, which is a 16-cent increase. The national average price of $3.51 is up by 14 cents, which is 38 cents more than the national price on this date last year, when it was $3.13, according to AAA.

In February 2011, the average price in Nevada was $3.20 a gallon, with the February 2012 figure showing a 31-cent increase. The national average price of $3.51 is up by 14 cents, which is 38 cents more than the national price on this date last year, when it was $3.13, according to AAA. The highest gas price in Northern Nevada was in Sparks, with an average of $3.67 for regular, unleaded. Elko had the lowest at $3.29.

“Gasoline prices continue to be largely influenced by investors’ activity,” said AAA Insurance spokesperson Matt Skryja. “They are looking for any influences, perceived or real, to both supply and demand. These influences impact their buying behavior. Positive economic news tends to inspire investors’ buying, as they anticipate increased demand. The reverse is true with poor economic news.”

Nevada has the 15th highest average state price in the nation. Among the lower 48 states, the highest average state price reported by AAA is in California with the highest price in Eureka, at $4.05. Nationwide the highest state price in the country is Hawaii, at $4.20.