California gas prices jumped 12 cents overnight Friday, reaching an all-time average high in the state, according to the SF Chronicle.
Prices spiked from a statewide average of $4.49 to $4.61 per gallon. The national average: $3.81.
San Francisco has one of the highest prices, averaging $4.60, according to AAA. The city’s record average price is $4.62 and was set in June 2008, according to the SF Chronicle.
Analysts say the gas price spike is fueled by a reduced supply and a volatile market. Prices are expected to increase for a few more days before leveling off.