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April 25, 2024 |
What’s pushing gasoline prices higher? SOUTHLAND – (INT) – Oil prices are nearly 20 dollars lower per barrel than this time last year, but other factors are pushing gasoline prices upward.
Continued inflation and California's steady reduction in refinery output and capacity may be the culprits behind the 5-week increase in what motorists are paying at the pump, according to the Automobile Club. In Riverside, the average per-gallon price is $4.74, which is 34 cents higher than last month and about the same as a year ago. Auto Club spokesperson Doug Shupe noted that “Los Angeles wholesale gasoline prices have moved up significantly in response to refinery problems and have since backed down somewhat, but they are still at almost the same level as this time last year on the eve of the Russian Ukraine invasion.” Story Date: March 10, 2023
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