Friday Fuel-Up: Prices Rocketing Daily

Gas prices jump over 35 cents in past week - experts unsure when daily price hikes will stop.

The average price of a gallon of self-serve regular gasoline in the Inland Empire recorded what is believed to be its largest single-day increase today, rising 18.1 cents to $4.479, its highest amount since July 19, 2008.

The average price in Riverside and San Bernardino counties has risen for
seven consecutive days, including 9 cents on Thursday and 4.4 cents on
Wednesday, and is now 37.2 cents more than one week ago, 33.3 cents higher than one month ago and 67.2 cents greater than one year ago, according to figures from the AAA and Oil Price Information Service.

The record price is $4.614, set on June 22, 2008.

"Reportedly in recent weeks, local refineries were dropping production
levels, exporting supply to Mexico and other countries, and allowing inventory
to dwindle in anticipation of switching over to production of winter blend
gasoline, then a refinery power outage and a pipeline incident occurred on
Monday that sent wholesale markets into a panic about the adequacy of
California fuel supplies,'' said Jeffrey Spring of the Automobile Club of
Southern California.

Spring said "it's not clear'' how much higher prices will go.

"A lot depends on whether the perceived supply issues are quickly
addressed,'' he said.

For the most up-to-date information on the rocketing prices in Palm Desert, click on our commute tab, under "more stuff", at the top of our page.

Ern Batavia October 06, 2012 at 03:45 PM
If the greenies hadn't succeeded in forcing Kalifornia to have all these special blends, we wouldn't be in this sort of situation. .....and I'm not even going to mention 0bamao's energy "policies" today.
Aireman October 06, 2012 at 06:15 PM
Yes, the California pollution board can be a bit strict. But, I grew up in the San Gabriel valley. I remember smog alerts so bad that we couldn't see the goal post on the football field from the other end. We are a bit spoiled out here with the relatively clear skies. I'd say we need one or two more refineries to keep this from happening every time one goes down. Oil companies would rather prices go up than have a back up plan.
Interloper October 07, 2012 at 01:23 AM
If Yomamma and the majority of federal and state politicians had to buy gas out of their own pocket, instead of ours, do you think they would stand idly by and watch prices soar nearly every day? I think not. Wish energy policies had more time in the recent debate. Romney did speak to it much more than the empty chair.


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