Gas Prices Jump Overnight: Find Lake Elsinore's Cheapest Gas

LAKE ELSINORE, CA —Fuel prices across the Inland Empire jumped by over 18 cents Thursday as residents await some relief at the pump.

The average price of a gallon of self-serve regular gasoline in the Inland Empire recorded its most significant increase since Oct. 5, 2012. On average, the cost of gas is $6.11, the highest amount for a gallon of gas since July 7.

These days, an average-sized car’s gas tank holds approximately 13 gallons, according to Quora.com. Temecula drivers can expect to spend in the neighborhood of $80 per tank if they hold out between fill-ups.

Where can you find the cheapest gas when every penny matters?

In Lake Elsinore, the lowest gas price was $5.55 per gallon at the Lake Elsinore Costco gas station on Central Avenue, according to GasBuddy.com.

The highest prices in the Lake Elsinore area were recorded at $6.39 at the Chevron Station on McCall Boulevard and Bradley Road.

Over the past ten consecutive days, the price of gasoline has risen to just under 80 cents a gallon, gouging the pocketbooks of even the savviest driver, according to figures from the AAA and the Oil Price Information Service. The cost at the pump is almost 67 cents more than one week ago and just under $1 higher than one month ago.

To reflect on where we are and how we've arrived here, drivers are paying almost $2 more than they paid for gasoline one year ago. As of the end of September, regular unleaded gasoline is just shy of a quarter from June's record high gas prices, at an average of $6.33 per gallon.

The reasons for high gas prices are vast, the corporate communications manager for the Automobile Club of Southern California Doug Shupe, said.

"A string of planned and unplanned refinery maintenance issues has severely tightened fuel supply in California," Shupe said. "West Coast fuel inventories are at the lowest level in about a decade, according to Energy Information Administration. "Until the refineries are fully operational again, supply is going to be tight and will cause pump prices to be volatile."

The national average price rose for the ninth consecutive day following a 98-day streak of decreases totaling $1.342, increasing 1.7 cents to $3.782. It has risen 10.8 cents over the past nine days, including 1.8 cents Wednesday.

Though the national average price is nearly 60 cents higher than one year ago, June saw the highest national average fuel price at $5.02 per gallon.

Will the statewide “inflation relief” help when it comes to offsetting high prices at the pump?

That depends on how much you drive.

High prices have plagued Californians on everything from groceries to gas over the last year. Next month, eligible residents will start receiving "inflation relief"tax refund payments thanks to a budget surplus.

With current prices, an expected relief payment of $1,000 for an average family of four, is enough to cover the cost of about one tank of gas per month.

How much did you pay for your last fill up?