< Back to All News

Gas Price Spikes May Be Slowing Soon

When oil prices jump, so do gas prices. And many stations have shown increases of 20-cents or more a gallon in the last few weeks, including in Nevada County. Experts say for every 10-dollar increase in crude oil, it can add about 24-cents a-gallon. But Patrick de Haan, with Gas Buddy dot-com, says there are signs the spikes are easing, with the barrel price of oil dropping below 80-dollars again. And the recent heatwaves also mean refineries can’t run at full capacity…

click to listen to Patrick de Haan

But De Haan says global oil production cuts may keep gas prices from dropping much, if at all, for the near future…

click to listen to Patrick de Haan

California continues to have the highest gas prices in the country, at about a-dollar-20 more a gallon, compared to the national average. De Haan also cites the low number of refineries in the state, resulting in a higher reliance on more expensive imported oil. We also have higher gas taxes.

KNCO Web Comments Guidelines

  1. Keep it clean. Comments with inappropriate language, no matter how cleverly spelled or decorated will not be posted.
  2. Comments on the way the story was written or misspelled words will be passed on to the story authors and not posted.
  3. Please use your real name. Anonymous comments or comments posted using a fake name or web handle may not be posted.
  4. Please use your real email address so we can contact you.
  5. No flaming. Any comments that are primarily of a name calling finger pointing nature may not be posted.
  6. The comment section is not a right it is a privilege. KNCO retains all rights as to what is posted on its website.

Leave A Comment

*

*

* captcha