Only Alaska came close behind, with a 54-cent increase during the same period, though other Western states have also seen noticeable increases. Over the last week, California gas prices have seen the steepest uptick in the U.S., jumping 59 cents to an average of $6.38 a gallon Monday, according to data from the American Automobile Assn. Plenty of challenges lie ahead as California mandates zero-emission cars, including cost and access to charging. “So if one refinery goes off to do maintenance, the prices are going to jump, because we don’t have much slack.”īusiness California bans sales of new gas-powered cars by 2035. tight market,” said Shon Hiatt, an associate professor of business at USC focused on the energy industry. Gavin Newsom responded last week to the drastic increases in fuel costs by jump-starting the state’s shift to its cheaper, winter-blend gasoline, energy experts say it could still be weeks until drivers get some real relief at the pump. California is getting another reminder of the volatility of its energy supply as shutdowns at several oil refineries have sent gas prices soaring, including to all-time highs Monday and Tuesday in Los Angeles.Īt least five plants have recently faced maintenance-related stoppages or slowdowns, limiting supplies of California’s special blend of gasoline mandated to reduce pollution.Īnd unlike the nationwide spike in gasoline costs this summer - driven by high oil prices and a surge in travel - the recent rise in gasoline prices is unique to California and some of its Western neighbors, underscoring yet again the fragility of the state’s transitioning energy markets.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |