California’s average gasoline price set a record today of $4.614 for a gallon of regular, up 12.8 cents overnight – but anyone who filled up in the last few days probably isn’t surprised.
Gasoline prices skyrocketed after the Exxon Mobil refinery in Torrance was knocked offline Monday by a power outage. Other lingering refinery and pipeline problems also contributed to the soaring costs at the pump.
Several service stations are charging more than $5 a gallon for regular gasoline. Some have stopped selling gas because they don’t want to pay the high wholesale price, which reached a record Thursday but eased somewhat on Friday.
Today’s record, as measured by AAA’s daily fuel price survey, replaces the old record of $4.610 set in 2008. If it’s any comfort, and it probably isn’t, that’s only a nominal record because when adjusted for inflation, the old record equals $4.93 in 2012 dollars.
Analysts say prices might begin leveling off next week as fuel traders digest the news that the Exxon refinery returned to service on Friday. But other refinery difficulties and maintenance could keep California’s prices significantly above those in other parts of the nation.
Around the state, Los Angeles drivers were paying an average $4.661, Orange County’s average was $4.650 and San Francisco was at $4.689.
Source: THE LOS ANGELES TIMES
{Matzav.com Newscenter}
MATZAV please update your info, cause actually gas stations in california are closing down already due to their record high gas prices.
i regards to this:
i await & watch as the entire country is about to shut down in bankruptcy
its just a matter of time
hit the road now to eretz yisroel & save yourself. dont wait until its too late CV.
i.e. how many yidden in europe & germany left before WWII when they all knew it was coming RL? not more then 5 percent. thats sad. but thats whats happening now today as we remain in the USA & watch it go down into collapse step by step
save yourself now & go with what you still have, wait & soon thousands will be going in poverty RL saying we have nothing left lets go to israel where the economy is better.
have a gut yom tov
obama is raising gas prices so we cant afford to drive to the polls
gas prices and gold prices rising dramatically lead to crash of stock market it is a downword spiral if they dont lower federal taxes on gas now, thus lowering the price they will b in much trouble