Bay Area Gas Prices Soar Past $5

The average cost of a gallon of unleaded gas in San Jose increased by 16 cents overnight.

By Erika Okano
|  Monday, Oct 29, 2012  |  Updated 9:46 PM PDT
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The average cost of a gallon of unleaded gas in San Jose increased by 16 cents overnight, according to AAA. At one station in Cupertino, gas was $5.39 a gallon for unleaded on Oct. 5. Monte Francis reports.

The average cost of a gallon of unleaded gas in San Jose increased by 16 cents overnight, according to AAA. At one station in Cupertino, gas was $5.39 a gallon for unleaded on Oct. 5. Monte Francis reports.

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Raw Video: Gas Prices Past $5 In Cupertino

The average cost of a gallon of unleaded gas in San Jose increased by 16 cents overnight, according to AAA. At one station in Cupertino, gas was $5.39 a gallon for unleaded on Oct. 5.
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Another night, another major jump in gas prices.

The average cost of a gallon of unleaded gas in San Jose increased by 16 cents overnight, according to AAA. It's up 38 cents from a week ago. San Francisco and Oakland are seeing similar increases this morning.

NBC Bay Area looked around and found a station in Cupertino charging a whopping $5.39 per gallon of unleaded. $5.59 per gallon for premium.

Analysts say mishaps at some of the state's 14 refineries has triggered a gas shortage. They say effects from August's fire at the Chevron refinery in Richmond are also contributing. Plus, there is trouble with an oil pipeline that supplies Valero and Shell stations across the state.

Analysts predict prices could continue to rise over the next few weeks.

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