LOS ANGELES (CBS) — Rising oil prices are pushing the cost of gasoline to record-levels.
In Los Angeles and Orange counties, the price of a gallon of gas jumped 5 cents overnight.
At a Shell station in downtown Los Angeles, the price of a gallon of self-serve regular Saturday rose to $4.31; $4.53 for super and $4.49 for diesel, according to CBS2’s Mike Dinow.
On Friday, the national average was its highest ever for this time of year — $3.69 a gallon, according to Dinow.
Experts say the soaring gas prices are due in part to escalating tensions with Iran over its nuclear program.
Meantime, President Obama says the only real solution to this challenge is to develop the technology that allows us to use less oil.