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|May 16, 2021|
Declining production and inventory boost gasoline prices
SOUTHLAND – (INT) – Declining gasoline inventories are putting pressure on retail pump prices which are the highest since 2019.
The California Energy Commission reports that inventories are down by 4 percent from mid-April and that gasoline production is also slightly down.
The Automobile Club of Southern California says planned maintenance at two Southland refineries coupled with some unplanned outages in the last couple of weeks have pushed prices for a gallon of 87 octane regular in the Riverside area to $3.99. That compares to the statewide average of $4.01 a gallon. A year ago with the pandemic putting a stranglehold on the state’s economy, the average was $1.26 less.
Story Date: May 5, 2021