• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 4 hours Chicago Threatens To Condemn - Possibly Demolish - Churches Defying Lockdown
  • 33 mins Let’s Try This....
  • 37 mins The CDC confirms remarkably low coronavirus death rate. Where is the media?
  • 1 hour New Aussie "big batteries"
  • 7 hours COVID 19 May Be Less Deadly Than Flu Study Finds
  • 8 hours China to Impose Dictatorship on Hong Kong
  • 4 hours Monetary and Fiscal Policies in Times of Large Debt:
  • 15 hours 60 mph electric mopeds
  • 23 hours Nothing can shake AMLO’s fossil-fuel fixation
  • 20 hours Iran's first oil tanker has arrived near Venezuela
  • 1 day US-China tech competition accelerates: on Friday 05/15 new sanctions on Huawei, on Monday 05/18 Samsung chief visits China

U.S. Gasoline Prices Tick Up For Eighth Straight Week

Drivers in the United States are paying more at the pump over the last eight weeks, as retail gasoline prices now averages $2.75 per gallon in the US, according to GasBuddy, who compiles millions of data points from 135,000 gas stations across the US.

Gas prices have ticked upward $0.50 per gallon over the last 90 days. Crude oil prices, a component of gasoline prices, have also risen over the last three months, with WTI climbing from $48.52 per barrel on January 7 to $64.34 per barrel today.

While the nationwide average gas price rises, West Coast gasoline prices—specifically California—have risen even higher, and the Golden State will soon see prices exceed $4 per gallon on average, the liks of which hasn’t been seen for over five years.

Further complicating matters, California has seen some refinery outages including Valero’s refinery in the Bay Area which was shut down after air quality concerns. Phillips 66 refinery in LA was also shut down after a refinery fire, and Chevron’s El Segundo refinery—the largest in the sate—has been down for more than a week.

“It really is going to be ugly this week in the West Coast, and any further issues could lead to more spikes, but for the rest of the country expect the rise to continue for a ninth straight week with little good news on the horizon,” Patrick DeHaan, head of petroleum analysis for GasBuddy said.

The average cost of a gallon of gasoline was $3.884 in Los Angeles on Monday, surpassing the price at the pump in even Hawaii.

The higher gasoline prices could put additional pressure on Washington, which is still considering a gas tax hike.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News