CALIFORNIA, USA — Gas prices are continuing to rise as the warmer months approach, and, an analysis at GasBuddy is predicting that the average price of gasoline in California will rise to its highest level since 2015.
If the prediction from GasBuddy comes to fruition, that means the average price in California will surpass the 2018 peak of $3.83 in a few days. It currently notes that the average price of California gas is about $3.77.
According to the GasBuddy analysis, it would then be expected to reach $4 per gallon in the next two weeks. It would be the first time since July 27, 2014 hit that rate.
Some of the reasons for the price increase include:
- Refinery problems plaguing the state and West Coast as gas supply remains tight due to the change-over to summer gasoline
- Several refineries being in the midst of planned maintenance, which further tightens supply
- Oil price increase, which were reaching $63 per barrel as of 1:25 p.m. CT on Friday
- Ethanol prices surging due to flooding in the Midwest
- Unexpected outages at refineries, which is considered to be the largest factor
While consumers should be prepared for the increase, GasBuddy is warning motorists to restrain themselves from filling their tanks to avoid making the supply issue worse.
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