The latest surge in gas prices is blamed mainly on refinery problems, once again. When Tropical Storm Hilary drenched the South State, that caused refineries to go out and they’re still struggling to get back to full production. Patrick de Haan, with Gas Buddy Dot-Com, says Northern California refineries are scheduled to switch to the cheaper winter blend, starting Sunday, October first. But Governor Newsom would also need to issue environmental waivers to speed up the process…
click to listen to Patrick de Haan
Prices jumped 20 to 30-cents a gallon in just one day on Wednesday at many stations. California’s recently appointed new oil czar cited similar factors, also including an increase in global crude oil prices, due to the ongoing Russia-Ukraine War, which sparked last year’s increases. But he also mentioned a single, isolated trade on California’s real-time spot market for gasoline that also caused a major price spike…
click to listen to Patrick de Haan
Newsom issued waivers about a year ago that allowed winter-grade gas to be sold sooner. And de Haan says that caused prices to fall by over a-dollar a gallon within 48 hours.
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