Saturday, Oct 6, 2012 10:30 AM UTC

Calif. gas prices equal all-time high

California Gasoline Prices

Ryan Goodman fills up his car at a gas station Friday, Oct. 5, 2012, in San Diego. Californians woke up to a shock Friday as overnight gasoline prices jumped by as much as 20 cents a gallon in some areas, ending a week of soaring costs that saw some stations close and others charge record prices. The average price of regular gas across the state was nearly $4.49 a gallon, the highest in the nation, according to AAA's Daily Fuel Gauge report. (AP Photo/Gregory Bull) (Credit: AP)

LOS ANGELES (AP) — The price of gasoline has reached the all-time high in California of $4.61 a gallon.

AAA’s Daily Fuel Gauge report released early Saturday says the average price for a gallon of regular unleaded across California rose 12 cents from its Friday mark of nearly $4.49.

Saturday’s price, the highest in the nation, equaled the record for California set in June 2008 price of $4.61.

Analysts say California gas price increases are expected to continue for at least several more days before leveling off.

They say the causes of the surging prices include a power outage Monday at a Southern California refinery that reduced supply as well as an already fragile and volatile market.