California oil prices approaching $5, will prices continue to rise in the coming weeks?

For several weeks in a row, gasoline prices in California have been rising rapidly. According to the data from the American Automobile Association (AAA) as of the 18th of this month, the average price of regular gasoline in California is approaching $5 per gallon, which is an increase of nearly 41 cents from a month ago. Experts predict that gasoline prices may continue to rise in the future.

Looking across all 58 counties in California, gas prices in all regions are at high levels. Mono County, located inland, has the highest gas prices in the entire state, with the average price of regular gasoline reaching $5.808. In addition, the greater Los Angeles area has prices below $4.7, while in many areas of Northern California, prices exceed $5.

Although the high gas prices in California are the result of multiple factors, the increasingly expensive prices have sparked widespread dissatisfaction among the public, who blame it on policies such as high gasoline taxes.

Los Angeles resident Carlos Lozano said, “California gas taxes are too high. Politicians always talk about tax revenues, increasing taxes at the state and federal levels, making it difficult for the public to afford.”

“I own a restaurant in El Monte City, and because of business needs, I used to drive a truck with a V8 engine. But now, I have to drive a 4-cylinder car because gas prices are too expensive, rising too fast,” he said.

Gas taxes in California have been increasing year by year. According to annual data, the gas tax per gallon reached 57.9 cents in the 2023-2024 fiscal year.

In addition to gas taxes, the recent increase in gas prices is also attributed to factors such as refinery explosions and a surge in summer demand.

Gianella Ghiglino, spokesperson for the Southern California Automobile Club, stated, “There are several reasons for the rise in gas prices. First, it’s currently the time for switching to summer blend gasoline, and refinery shutdowns have also led to price hikes.”

In early February, an explosion and fire occurred at the Martinez Refinery, located about 40 miles northeast of San Francisco, injuring six workers.

Patrick De Haan, petroleum analysis director at GasBuddy, told the English Epoch Times reporter that this incident resulted in a reduction in refined gasoline in California and caused significant damage. The refinery closure directly affected Southern California, Oregon, Nevada, Arizona, and Washington, with Northern California facing the biggest challenge.

De Haan mentioned that besides the Martinez Refinery closure, other refineries are also undergoing routine maintenance, reducing the overall gas supply in the state. He expects that gas prices in California may continue to rise.

“I believe the largest surge in prices is behind us, which is good news, but prices are likely to continue rising in the next few days. In the next four to six weeks, gas prices are very likely to exceed $5, but I don’t think it will rise much more than that. However, if there are further unexpected events, it’s hard to say,” De Haan commented.

Ghiglino also noted that the trend of skyrocketing gas prices has halted, stating, “We have reached a period of stability. We can’t predict the future trend of gas prices, but at least today, we see prices have not increased.”

As the weather warms up, the increase in travel will also lead to a corresponding growth in gasoline demand. Ghiglino therefore recommends that people compare prices from different gas stations before refueling, maintain vehicles promptly, reduce fuel consumption, and lower fuel expenses.