California gas prices break new record

Refinery troubles resolved, but prices rise to $5.00 or more

POSTED: 05:42 PM PDT Oct 06, 2012    UPDATED: 05:42 PM PDT Oct 06, 2012 

Analysts expect gas prices in California to sail past a record set in 2008 before pain at the pump ebbs.

Triple A says prices eked out a record Saturday by a fraction of a cent, with the average high reaching $4.61. But senior petroleum analyst Patrick DeHaan predicts the average price could peak as high as $4.85.

A temporary reduction in supply triggered a price spike that saw fuming motorists after a paying $5 or more per gallon in some locations and station owners shutting down pumps in others.

Saturday's price is the highest in the nation, with the Golden State leapfrogging Hawaii this week as the state with the most expensive fuel.

The national average Saturday was about $3.81 a gallon, the highest ever for this time of year.