• 2 days The Federal Reserve and Money...Aspects which are not widely known
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 13 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days Coincidence of EIA Report Delay? - "I had seen it delayed minutes, and a couple of times a few hours, but don’t recall something like this — do others?" asks Javier Blas
  • 1 day European Parliament Members, Cristian Terhes et al, push back against Totalitarian Digital ID and Carbon Tyranny in Europe.
  • 4 days Demonising fossil fuels has caused major grid problem in Australia
  • 3 days "...too many politicians believe things that aren’t true." says Robert Rapier
  • 1 hour "How Long Will The Epic Rally In Energy Stocks Last?" by Tsvetana Paraskova at OILPRICE.COM
  • 8 days "And this is perhaps the most dangerous kind of government there can be."
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 4 days Welcome to Technocracy - The New World Energy Order... "1000s Of Sydney Homes Plunged Into Darkness As Aussie 'Price Cap' Policy Sparks Energy Shortage"
  • 5 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 330 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 7 days ESG Topic - "German Police Raid Deutsche Bank, DWS Over Allegations Of Greenwashing" - ZeroHedge Bloomberg and others

California Gasoline Prices Reach Highest In History

Gasoline prices in California have reached fever pitch, hitting their highest prices ever recorded, according to data from Gas Buddy.

Average prices hit $4.68 per gallon today in California, beating out previous records set in 2008 and 2012.

Gasoline prices in the United States have continued to climb as stockpiles of the fuel continue to dwindle. Gasoline inventories in the United States fell 1.6 million barrels this week, according to EIA data, to 212.7 million barrels, which is 4% below the five-year average.

Soaring gasoline prices have put immense pressure on the Biden Administration, who have promised to make high prices a priority. One of the tools that the White House may consider to alleviate rising crude oil and gasoline costs is a release from the nation’s Strategic Petroleum Reserve.

Industry analysts, however, have suggested that releasing millions of barrels from the SPR would do little to bring down the price of gasoline at the pump.

But a SPR release is only one of the tools that the White House is considering. According to U.S. Energy Secretary Jennifer Granholm, President Biden could make an announcement on how the Administration will address soaring prices as early as this week.

It is unknown what other tools the Administration is considering, but President Biden said that he was dealing with other countries on the matter.

 “He’s certainly looking at what options he has in the limited range of tools a president might have to address the cost of gasoline at the pump, because it is a global market,” Granholm said earlier this week.

The national average price of a gallon of gas on Thursday was $3.417 per gallon, according to AAA data. 

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • Ronald McKinney on November 12 2021 said:
    Whatever Biden does will either be the wrong thing or the right thing at the wrong time.
  • George Doolittle on November 11 2021 said:
    Make it $40.00 us dollars a gallon.

    Why not $400.00 us dollars a gallon now?
    Works for me and of course California as well.
    &quot;Types of prices for *EVERYTHING* they love out that way.

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News