Friday, October 05, 2012

Gasoline Prices surge in California due to Refinery Problems

by Bill McBride on 10/05/2012 05:56:00 PM

Earlier on employment:
September Employment Report: 114,000 Jobs, 7.8% Unemployment Rate
Employment: Somewhat Better (also more graphs)
All Employment Graphs

Last night I mentioned the soaring gasoline prices in California, here is an update from the LA Times: California facing new record high for gasoline prices

The average price for a gallon of regular gasoline in California jumped a whopping 17.1 cents overnight. That makes it almost certain that the state's motorists will see a new all-time record high for gas sometime this weekend.

Friday's average price for a gallon of unleaded regular in California is $4.486 a gallon, which is by far the highest in the nation.
...
Analysts have blamed the sudden increase on a recent spate of refinery problems.
The following graph shows the recent decrease in gasoline prices. Gasoline prices have been on a roller coaster all year.

Add Los Angeles or San Francisco, and you'll see the graph go straight up!



Orange County Historical Gas Price Charts Provided by GasBuddy.com

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