The average price of a gallon of regular gasoline in Orange County rose one cent from last week to $4.214, edging closer to the record high of $4.59 a gallon set on June 2008.

Marie Montgomery, a spokeswoman for the Automobile Club of Southern California, said speculation in the crude oil and gasoline futures markets contributed to the rising costs.

“Gasoline futures are in some of the highest ranges we’ve ever seen,” she said. “Unfortunately, we are having to pay the price at the pump for that.”

Montgomery said if the past was an indicator, the rise in prices could stop in May.

“We’ve had gas price increase every year in March and April since 2000,” she said. “And in every year, by May, the spike has stopped. That’s not to say it’s going to stop.”

Montgomery said a continued rise in the gas prices is predicated on speculators.

“As long as they think the price of crude oil and wholesale gasoline is going to be more tomorrow than today, then the price will go up,” she said.

“All I can say is that given the volatility we’re had the past 2 two years, people are understanding they need to take this into account with their decisions.”

Contact the writer: 714-704-3704 or efields@ocregister.com