Excessive fuel costs at stations in Backyard Grove, California, on Monday, March 7, 2022.
Jeff Gritchen | Medianews Group | Getty Pictures
California’s state common for a gallon of fuel has surged above $6, making gas within the Golden State the costliest throughout the U.S.
The common worth on the pump in California hit a document $6.021 per gallon on Tuesday, in accordance with AAA. Costs are up 31 cents per gallon over the past month, and $1.89 increased than a yr in the past.
Whereas California’s costs are the very best within the nation, the nationwide common of $4.523 can also be a document, with each state now averaging greater than $4, in accordance with AAA.
The sharp leap is partly attributable to an increase in oil costs, which makes up greater than half of the whole worth of gasoline.
“The excessive price of oil, the important thing ingredient in gasoline, is driving these excessive pump costs for customers,” Andrew Gross, AAA spokesperson, stated Monday in an announcement.
“Even the annual seasonal demand dip for gasoline throughout the lull between spring break and Memorial Day, which might usually assist decrease costs, is having no impact this yr,” he added.
An absence of refining capability can also be pushing up costs. Refiners flip oil into petroleum merchandise like gasoline and demand for such merchandise is surging as financial exercise returns. However refining capability is decrease than pre-pandemic ranges, which contributes to their speedy worth rise.
Retail diesel costs are rising upward, too, with the nationwide common hitting a document $5.573 per gallon on Tuesday. Costs are up $2.40 over the past yr.
