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As California gas prices skyrocket, here’s where prices are cheapest

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Via Fox Business

California gas prices hit a five-year high

WSJ’s James Freeman, Vision 4 Funds Distributors VP Heather Zumarraga, Kadina Group President Gary B. Smith and Barron’s senior editor Jack Hough discuss why gas prices in California surged to a five-year high.

Gas prices in California have risen significantly over the past month – to levels that are well above what the average American is paying at the pump.

Gas prices in the state recently passed an average of $4 per gallon for the first time since 2014.

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As of Tuesday, the average price-per-gallon in California was $4.03, according to AAA – with even higher rates recorded at some stations in cities like San Luis Obispo ($4.20).

Meanwhile, the national average was $2.86 per gallon – up about 8 cents when compared with the same period last year.

While Golden State drivers are unlikely to see relief in the near future – and the national average could near $3 per gallon – here are the drivers paying the lowest prices in the country, according to AAA.

Alabama

Nearly $2.51 per gallon

Prices in the state are actually lower when compared with the same period last year, when they were $2.54 per gallon.

Mississippi

$2.52 per gallon

Prices in Mississippi are roughly on par with last year’s averages, though they are up around 15 cents over the past month.

South Carolina

Nearly $2.55 per gallon

Prices are slightly higher when compared with the same period last year, but up nearly 15 cents from one month ago.

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Arkansas

$2.55 per gallon

Prices are up slightly more than 5 cents when compared with the same period last year.

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Missouri

$2.58 per gallon

Prices in Missouri are up nearly 10 cents when compared with the same period last year and about 8 cents compared with last month.

The national average

Experts told FOX Business that seasonal factors – including refinery maintenance – could drive the national average near $3 per gallon within the coming weeks.

The good news? After peaking this spring, prices will fall down to the $2.50-to-$2.70-per-gallon range for the summer months, according Patrick DeHaan, GasBuddy’s senior petroleum analyst.


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