Amid the threat of tariffs, the national average for a gallon of gas ticked up two cents from last week to $3.13. In California, drivers will find an average price of $4.52, a jump of seven cents from last week. Meanwhile, the national average per kilowatt hour of electricity at a public EV charging station has remained the same at 34 cents.
According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.30 million b/d last week to 8.32. Total domestic gasoline supply rose from 248.9 million barrels to 251.1, while gasoline production decreased last week, averaging 9.2 million barrels per day.
At the close of Wednesday’s formal trading session, WTI dropped $1.67 to settle at $71.03 a barrel. The EIA reports that crude oil inventories increased by 8.7 million barrels from the previous week. At 423.8 million barrels, U.S. crude oil inventories are about 5% below the five-year average for this time of year.
Fuel Prices Around the State:
Fresno: $4.44
Oakland: $4.54
Sacramento: $4.50
San Jose: $4.50
San Francisco: $4.68
Stockton: $4.37
This headline is erroneous.
The price paid today for gasoline reflects oil prices established well before Trump took office. Anyone with even a rudimentary understanding of the energy business knows this.
I paid $2.689 for regular at Costco here in Charlottesville, Virginia yesterday. I sure don’t miss California prices.
Drill baby drill!
Chevron on Ygnacio Valley Rd in Walnut Creek keeps price gouging. Never seen 3.13 there ever. always 4.75 and upwards…. Mean and cruel
That’s the national average, not for California.
Martinez refinery fire has also contributed to this increase
There are no crude oil pipelines coming into California.
If world’s oil supply is disrupted, CA’s fuel prices will go up.
After Trump gets American oil production going again, prices will DROP across the country.
.
“In 1982 of the crude oil California needed only 5.6% was foreign oil, 33.0% came from Alaska and 61.4% was from California wells.
.
In 2023 make up of crude oil being refined in California, 60.7% was from foreign countries, 15.9% was from Alaska and 23.4% was from California wells.” .
https://tinyurl.com/2p9sf9nd