AAA: California Pump Prices Still Above $4, National Average at $2.60 per Gallon

AAA reported Monday that national gas prices dropped by four cents to $2.60 per gallon, however, Californian’s are paying $4.06 per gallon.

That is the largest one-week decrease since gas prices started to increase more than six weeks ago. Today’s average is a nickel cheaper than last month and 21-cents cheaper than last year at this time.

West Coast

Pump prices in the West Coast region continue to fluctuate after a number of refineries in the region underwent planned and unplanned maintenance over the past few weeks. This includes the Olympic Pipeline, which can transport 300,000 b/d of refined products in the region. The pipeline reduced its capacity to undergo unplanned work last week. The pipeline is expected to operate at reduced capacity this week, which will likely put pressure on tight supplies in the region and cause prices to remain high. Additionally, regional power cuts may take some gas stations offline in areas impacted by the fires in California, potentially putting pressure on pump prices.

California ($4.06) and Hawaii ($3.66) are the most expensive markets in the country. Nevada ($3.38), Washington ($3.42), Oregon ($3.34), Alaska ($3.14) and Arizona ($2.90) follow. California (-8 cents) and Nevada (-6 cents) saw the largest decreases, while Alaska (+7 cent) saw the largest increase on the week.

The Energy Information Administration (EIA) report for the week ending Oct. 18 showed that total West Coast gasoline stocks mostly held steady from 26.23 million bbl to 26.25 million bbl. The current level is approximately 700,000 bbl lower than this same time last year. Tighter supplies will continue to keep prices high this week, but as refineries resume normal gasoline production levels and imports enter the region, pump prices are expected to continue stabilizing.

Full article: https://gasprices.aaa.com/pump-prices-are-a-treat-for-majority-of-motorists/