Gas prices rose 3.7 cents per gallon in past week

Average retail gasoline prices in California have risen 3.7 cents per gallon in the past week, averaging $3.73/g Sunday. This compares with the national average that has increased 4.5 cents per gallon in the last week to $3.39/g, according to gasoline price website CaliforniaGasPrices.com.

Including the change in gas prices in California during the past week, prices yesterday were 39.7 cents per gallon higher than the same day one year ago and are 13.6 cents per gallon higher than a month ago. The national average has increased 13.5 cents per gallon during the last month and stands 30.4 cents per gallon higher than this day one year ago.

“Late last week we saw wholesale gasoline prices rise dramatically on some refinery issues, which leads me to believe that retail gasoline prices will rise in response,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan.

“We continue to also watch how Iran responds to EU sanctions- there are some concerns that they may cut oil to the European region before the sanctions are to take effect to cause these countries hardship when they can’t find new sources of oil quickly enough. That in itself could draw crude oil prices higher quickly at a moments notice,” DeHaan said.

 

 

 

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