Prices have gone up over the past few weeks as California switches to the summer blend
Here's why gas prices are so high in California right now, and when they could come down
Prices have gone up over the past few weeks as California switches to the summer blend
TO FIND GAVINO. WELL, GAS EXPENSIVE RIGHT NOW IN OUR STATE. EXPERTS SAY THAT IT COULD GET WORSE BEFORE IT GETS BETTER, RIGHT? SO THIS IS THE SEASON FOR THAT. WINTER IS BEHIND US. SPRING IN FULL SWING. THE SWITCH TO THE SUMMER BLEND IS HAPPENING RIGHT NOW HERE IN CALIFORNIA TO KCRA 3’S BRITTANY. HOPE IS LIVE FOR US IN SACRAMENTO SO I CAN SEE YOU’RE AT A GAS STATION. BRITTANY, HOW MUCH IS THE GAS WHERE YOU ARE? YEAH. SO IT’S ONE OF THOSE THINGS, RIGHT? WHERE IT REALLY DEPENDS ON THE STATION. IF YOU’RE FAMILIAR IN THE AREA IN SACRAMENTO. ON WHAT? AND FAIR OAKS, IT’S WHERE THERE’S A DIFFERENT GAS STATION ON EVERY CORNER HERE. THIS IS A M P M A GALLON OF REGULAR IS 535 WITH DEBIT. BUT LOOK ACROSS THE STREET OVER AT THAT SHELL. IT’S 565 $0.30 MORE. SO YEAH, IT CAN REALLY MAKE A DIFFERENCE WHERE YOU GO. BUT HEY, EVERYWHERE PRICES ARE UP. GASBUDDY TELLS ME THE AVERAGE GALLON OF GAS IN SACRAMENTO WENT UP CLOSE TO $0.30 IN JUST THE LAST WEEK. UH, OMG, CAN I SAY THAT AN HONEST REACTION TO THESE NUMBERS WHEN I’M GETTING A BIG FILL LIKE THIS, IT’S ALMOST 50 BUCKS AND THAT’S YOU KNOW, THAT’S A CHUNK FOR A TANK WOULD PROBABLY BE. ABOUT $80. IF YOU FEEL LIKE YOU’RE PAYING MORE AT THE PUMP, IT’S BECAUSE YOU ARE TRIPLE A SAYS THE AVERAGE PRICE OF A GALLON OF REGULAR IN CALIFORNIA WAS 47 A MONTH AGO, 512 A WEEK AGO, 535 JUST YESTERDAY, AND 537 TODAY. CALIFORNIA HAS ITS OWN BLEND OF GASOLINE. IT HAS VERY HIGH TAXES. IT HAS A CAP AND TRADE PROGRAM. ALL OF THAT FACTOR INTO WHAT YOU PAY AT THE PUMP. PATRICK DE HAAN IS THE HEAD OF PETROLEUM ANALYSIS AT GASBUDDY. IT’S ALSO LAYERED ON THE FACT THAT NOT AS MUCH OF THAT SUMMER BLEND IS BEING PRODUCED BECAUSE OF REFINERY MAINTENANCE, WHICH IS KIND OF VERY NECESSARY EVIL AND HE SAYS THERE’S SIMPLY NOT AS MUCH TRADITIONAL FUEL AS THERE USED TO BE. DEMAND IS UP WITH SPRING BREAK AND SUMMER STARTING SOON. SUPPLY IS DOWN, PRICES SEE THE IMPACT MORE AND MORE. CALIFORNIA REFINERIES PARTIALLY BECAUSE OF BUREAUCRACY, HAVE BEEN MAKING THE TRANSITION NOT TO BE PRODUCING GASOLINE, DIESEL AND JET FUEL, BUT PRODUCING MORE RENEWABLE PRODUCTS LIKE BIODIESEL, TRIPLE A SAYS SUMMER GAS IS ALWAYS MORE EXPENSIVE, BUT INTERNATIONAL ISSUES HAVE A BIG IMPACT. GLOBALLY, OIL PRICES ARE UP THERE AT ABOUT $85 A BARREL AND THAT’S BECAUSE OF THINGS LIKE UKRAINE ATTACKING RUSSIAN OIL SUPPLIERS AND WHAT’S HAPPENING IN THE MIDDLE EAST. AND A LOT OF CONCERNS OVER THERE. THE GLOBAL OIL MARKET REALLY HAS A BIG IMPACT ON WHAT YOU PAY AT THE PUMP, BECAUSE A BARREL OF CRUDE OIL, THE STUFF YOUR GAS IS MADE OF, MAKES UP ABOUT 50% OR MORE OF WHAT YOU’D PAY AT THE PUMP. ALTHOUGH EXPERTS SAY CALIFORNIA IS FEELING THE BRUNT OF THIS, ESPECIALLY OVER THE PAST FEW WEEKS. EXPERTS SAY THE ENTIRE WESTERN U.S., ESPECIALLY THE WEST COAST, IS DEALING WITH THE RISE IN PRICES. THAT INCLUDES STATES LIKE OREGON, WASH. IN ARIZONA AND NEVADA. BUT AGAIN, CALIFORNIA REALLY FEELING A LOT MORE OF THAT BECAUSE OF OUR TAXES. IN PART, THAT’S WHAT THOSE EXPERTS SAID. FOR NOW, WE’RE LIVE IN SACRAMENTO. BRITTANY HOPE, KCRA THREE NEWS. SO WHEN DID THE EXPERTS EXPECT THAT THOSE PRICES WILL GO BACK DOWN? BRITTANY. YEAH, SO IT COULD BE 4 TO 8 WEEKS. AND THAT REALLY DEPENDS ON WHEN THAT REFINERY MAINTENANCE WRAPS UP AND WHEN CALIFORNIA FINISHES TURNIN
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Here's why gas prices are so high in California right now, and when they could come down
Prices have gone up over the past few weeks as California switches to the summer blend
If you feel like you're paying more at the pump recently, it's because you are.Although gas prices have been going up nationwide over the past few weeks, experts say drivers along the West Coast and especially California are feeling the pinch. "The national average is going up but not nearly by the amount that we're seeing in Sacramento and California," Patrick De Haan, the head of petroleum analysis for GasBuddy, told KCRA 3 Tuesday. "Sacramento's average is up close to 30 cents a gallon in the last week. The national average, for comparison, is up 7 cents a gallon."There's a laundry list of reasons why Californians are paying significantly more than other Americans for gas right now. De Haan said some stations in Mississippi, Louisiana, and Texas have prices at under $3 a gallon."California has its own blend of gasoline, it has very high taxes, and it has a cap-and-trade program," De Haan said. "All of those factor into what you pay at the pump."He said refinery maintenance is impacting prices across the West Coast, which is curbing supply at a time when the state and the region is moving to more expensive gasoline blends for the summer. Demand is also up for gas because of big travel events, like spring break and the recent eclipse. AAA said international events are also impacting gas prices across the world."Globally, prices are up," AAA spokesperson John Treanor said. "They're about $85 a barrel, and that's because of things like Ukraine attacking Russian oil suppliers and what's happening in the Middle East and a lot of concerns over there. The global oil market really has a big impact on what you're paying at the pump because a barrel of crude oil, the stuff your gas is made up of, makes up about 50 percent or more of what you pay at the pump."So, when can you expect prices to stabilize and hopefully start coming back down? Expect it to get worse before it gets better.GasBuddy said hopefully, by Memorial Day, when refinery maintenance is done and the switch to California's summer blend is over, we should see prices ease.Here's a closer look at gas prices on the national level:
SACRAMENTO, Calif. —
If you feel like you're paying more at the pump recently, it's because you are.
Although gas prices have been going up nationwide over the past few weeks, experts say drivers along the West Coast and especially California are feeling the pinch.
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"The national average is going up but not nearly by the amount that we're seeing in Sacramento and California," Patrick De Haan, the head of petroleum analysis for GasBuddy, told KCRA 3 Tuesday. "Sacramento's average is up close to 30 cents a gallon in the last week. The national average, for comparison, is up 7 cents a gallon."
There's a laundry list of reasons why Californians are paying significantly more than other Americans for gas right now.
De Haan said some stations in Mississippi, Louisiana, and Texas have prices at under $3 a gallon.
"California has its own blend of gasoline, it has very high taxes, and it has a cap-and-trade program," De Haan said. "All of those factor into what you pay at the pump."
He said refinery maintenance is impacting prices across the West Coast, which is curbing supply at a time when the state and the region is moving to more expensive gasoline blends for the summer.
Demand is also up for gas because of big travel events, like spring break and the recent eclipse.
AAA said international events are also impacting gas prices across the world.
"Globally, prices are up," AAA spokesperson John Treanor said. "They're about $85 a barrel, and that's because of things like Ukraine attacking Russian oil suppliers and what's happening in the Middle East and a lot of concerns over there. The global oil market really has a big impact on what you're paying at the pump because a barrel of crude oil, the stuff your gas is made up of, makes up about 50 percent or more of what you pay at the pump."
So, when can you expect prices to stabilize and hopefully start coming back down? Expect it to get worse before it gets better.
GasBuddy said hopefully, by Memorial Day, when refinery maintenance is done and the switch to California's summer blend is over, we should see prices ease.
Here's a closer look at gas prices on the national level:
