California gas prices hit all-time high

3:33 PM, Oct 6, 2012   |    comments
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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.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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