Gas prices high going into holiday weekend
Staff reportsGas prices that have dropped slightly over the last week are still no bargain compared with prices from last month and last year, according to a report by the American Automobile Association. On the verge of President’s Day weekend, gas prices are up 20 cents from early January and 48 cents higher than a year ago.”Prices are higher, the question is why?” said Sean Comey, AAA spokesman, in a written release. “We have enough crude oil and gasoline to meet current demand and yet the cost of fuel continues to cause budget concerns for many customers.”
In a word, it’s “crude,” according to the California Energy Commission.The cost of a barrel has kept prices at the pump high, the commission reported.The regulatory agency has been tracking the average for a gallon of self-serve unleaded gas in relation to crude prices. The average gas is now $2.56 in the state.A barrel of crude is going for $66.05 as of Monday, almost $23 more than last year’s price.
The commission points to a volatile market – which can rise on rumor, uprisings in Nigeria and Venezuela, some slowdown in Gulf Coast production from hurricane damage, and Iran’s threatened cuts in production.”All the increases we see at the pump are attributable to the cost of crude,” commission spokesman Rob said.In Truckee, the average price is $2.69.Upon releasing its latest survey Tuesday, the commission questioned why the prices have remained high in California in particular, despite ample supply.
Some believe the state is being penalized – possibly for having standards that are too strict.The national average is $2.29 a gallon – down 3 cents from last month. Every regional market in California surveyed reported a rise in prices.- Sun News Service reporter Susan Wood contributed to this report.
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