Gas buddy estimates gas prices won’t be back down to what they were before the disruptions and planned maintenance until at least Thanksgiving. It’s very rare to see such a significant increase so quickly," says De Haan. "In some areas of the west we’ve seen prices shoot up 50 cents to a dollar a gallon in just about 2 weeks. Gas Buddy’s head of petroleum Patrick De Haan anticipates prices could rise even higher over the next week or two before starting to stabilize. "Right now I can’t fill up my tank because it’s really expensive," he admitted. Subscribe 311K views 1 year ago savagescotty Gas prices are about to skyrocket. Soaring prices at the pump in the Capital Region and across New York have prompted the second warning in a week from attorney general Letitia James office over price gouging. It’s either I feed my four kids or not fill up my car to get to work," Terrena said.Īnother driver, Cedric has similar concerns. "Even with the budgeting and with the prices of food, the budgeting is not even helping with the cut back. ![]() It can’t meet up with demand."įor Terrena, everyday comes with a tough decision. This has caused supply and demand to drift further apart as these companies work to resolve these issues.ĪAA spokesperson John Treanor explains: "Essentially those oil refineries are shut down or partially shut down which means the supply is low. Gas Buddy and AAA told Channel 13 the cause of the price hike is due to unforeseen disruptions and planned maintenance issues with oil refineries that service the West Coast and the Great Lakes Region. It’s just been nickel and dime here and there."Įarlier this year the nation reached record high gas prices, stemming from Russia’s war on Ukraine. Valley resident Terrena told us: "I haven’t filled up my tank since the beginning of September. The fast spike has people budgeting how much gas they put in their car at a time. That’s according to Gas Buddy who reported that the nation’s average has risen over 11 cents from just a week ago. With Massachusetts seeing below average with 3.48 a gallon. These can be minor issues but can take days to resolve themselves.LAS VEGAS (KTNV) - The national gas price average has risen for a second straight week. According to AAA, gas prices on Friday averaged 3.68 a gallon nationwide. “It’s similar to encountering a flat tire or a rock in your windshield during a road trip. US oil prices finished above 80 a barrel on Monday for the first time in nearly seven. ![]() “When one little thing goes wrong, it can take a refinery offline for several days,” De Haan said. That’s why US oil prices have skyrocketed 120 since crashing to negative 40 a barrel in April 2020. Patrick De Haan, the head of Petroleum Analysis at Gas Buddy, attributes the rising gasoline prices in the Golden State to high gas taxes and limited supply from oil refineries, among other reasons. So, why are California gas prices increasing disproportionately? Prices there have stayed close to the national average. Other states like Florida, Georgia and Texas have not seen a significant gas price increase. Please look at the time stamp on the story to see when it was last updated.Ĭalifornians have seen gasoline prices skyrocket in recent weeks, culminating in back-to-back records on Monday and Tuesday.Īccording to AAA, California’s average gas price is $6.42 a gallon – far above the national average of $3.86 This is an archived article and the information in the article may be outdated.
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