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Gasoline Prices up Over 30 Cents

By Editorial Dept | Mon, 20 August 2012 15:30 | 2

Just filled up my car, and I paid $4.11 per gallon. Using the calculator from Professor Hamilton, and the current price of Brent crude oil, the national average should be around $3.68 per gallon. That is about the current level according to Gasbuddy.com (see graph below). In California, where I live, gasoline prices are always higher than the national average. Update: Some of the recent increase in California was due to the refinery fire in Richmond

The following graph shows the recent increase in gasoline prices. Gasoline prices are down from the peak in early April, but up about 30 cents over the last seven weeks. Note: This will push up the headline CPI numbers.

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  • Scott Brooks on August 24 2012 said:
    It's no wonder gas prices are high in Californiay, they practically outlawed refineries and oil drilling.

    Got electric Prias?
  • Richard on August 20 2012 said:
    Try coming to the UK and paying $10 a gallon

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