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Gasoline Prices surge in California due to Refinery Problems

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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 .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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