This holiday season, many U.S. drivers are getting the gift of lower gas prices. According to data from motor club AAA, December has been the cheapest month for prices at the pump this year. The national average for unleaded gasoline has stayed below the $3 mark since Dec. 2, falling to its lowest level of about $2.85 a gallon on Monday. Relief at the pump is welcome for consumers who have been feeling higher prices in other parts of their budgets — as worries about the costs of goods ranging from groceries to holiday gifts rise amid ongoing inflation and U.S. President Donald Trump's tariffs on foreign imports.
It has been reported that the Trump administration is ready to allow drilling off the California coast.
California’s average price for a gallon of gasoline jumped 12 cents since last week, reaching $4.69, according to AAA Northern California.
Fire crews have extinguished flames at a Chevron refinery just outside of Los Angeles. Officials in El Segundo, California, urged people to stay indoors Thursday night. By early Friday, they said the fire was contained and there was no threat to public safety. No evacuations have been ordered. The company says there were no injuries, all personnel were accounted for and a monitoring system indicated the fire did not move beyond the facility's fence line. It wasn't immediately clear what caused the fire. El Segundo is a beachside city located about a mile south of Los Angeles International Airport.
California is considering a bill that would allow insurers and victims of climate-driven natural disasters to sue the oil industry for damages. State Sen. Scott Wiener, who authored the bill, said the oil industry should be liable in a natural disaster because companies intentionally deceived the public about the risks of fossil fuels on climate change. Those changes have intensified storms and wildfires and caused billions of dollars in damage. Such disasters have also driven the state insurance market to a crisis. The bill is supported by several environmental and consumer protection groups, but the oil industry has already signaled it will fight the legislation.
Gas prices are once again on the decline across the U.S. That's bringing some relief to drivers now paying a little less to fill up their tanks. The AAA motor club says the national average for gas prices on Monday stood around $3.44 a gallon. That's down about 8 cents from a week ago, more than 19 cents from one month back, and over 14 cents down from this time last year. Why the recent fall in prices at the pump? Industry analysts point to a blend of mild demand and increasing supply — as well as relatively mild oil prices worldwide. The future is never promised. But, if there are no major unexpected production interruptions, some experts say that prices could keep working their way lower.
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