California continues to be the most expensive market for retail gasoline nationwide and prices are moving higher as the summer-blend continues to make its way to terminals statewide, according to AAA, which provides the information as a community service.
In San Mateo, the average price of a gallon of gas is $2.79, up 27 cents from last month. The state pump price of unleaded regular is $2.77 per gallon, which is 28 cents higher than a month ago, but still cheaper than a year ago, when prices registered at $3.10 per gallon, according to AAA.
The least expensive fuel can be found in Ukiah, where the average price for a gallon of regular is $2.49. The highest price is in San Francisco and Eureka, where the average price is $2.85 a gallon, up 28 cents and 20 cents respectively, from last month’s AAA gas survey.
Today’s national average of $2.06 per gallon is the lowest for this day since 2009 and average prices are about 35 cents per gallon cheaper than a year ago. Refineries are increasing their utilization rates, following the spring maintenance season, and as a result the U.S. Energy Information Administration reported an increase in domestic gasoline inventories. Unclear expectations about future supply and demand continue to influence global oil prices. OPEC is meeting to discuss production issues on April 17, though most market watchers question if the countries will agree on a freeze or whether the freeze in production will even be effective. A potential freeze in production could cause prices to increase temporarily, though it is difficult to see how it will reduce the market’s extreme oversupply, according to AAA.
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Keep the discussion civilized. Absolutely NO personal attacks or insults directed toward writers, nor others who make comments.
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PLEASE TURN OFF YOUR CAPS LOCK.
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