SAN FRANCISCO — Gasoline prices have jumped above $3 a gallon in some parts of California and Hawaii and may hit that level in other parts of the country when the summer driving season approaches.
Analysts say drivers should brace for more increases in the coming weeks. Crude oil, which makes up about half the price of gasoline, is trading above $60 a barrel. Higher demand, refinery maintenance and fears about springtime shortages are also driving up prices, particularly on the West Coast.
"The West Coast will certainly be the wild, wild West this year," said Tom Kloza, chief oil analyst for the Oil Price Information Service. Maintenance work at West Coast refineries has curtailed supplies and exacerbated the typical "preseason rally" spurred by jitters about tight supplies.
"In the rest of the country it's just petro-noia. They're worried that they won't have enough gasoline," Kloza said. "But on the West Coast the concern might be warranted."
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Analysts said it's unlikely other parts of the country would see $3 gasoline before summer without a major disruption in supply.
Average fuel prices are still below their historical highs — most of which were set in 2006 — but are inching higher.
Wailuku, on the Hawaiian island of Maui, currently has the highest average price for a gallon of regular unleaded at about $3.20.
On the mainland, the title goes to San Francisco, where a gallon averages $3.10, according to the AAA Daily Fuel Gauge Report for Wednesday.
Gas prices head up
Here is the average price of unleaded fuel per gallon as of Wednesday.
Tucson: $2.43
Phoenix: $2.47
Arizona: $2.49
Nation: $2.50