Gas prices climb higher across California as experts warn this surge will be different - New York Post

What the report says

The New York Post reported that gasoline prices in California have been rising day by day, with analysts warning that the current increase could be harder to cushion than earlier spikes because global fuel supplies are tight and U.S. refineries have little spare capacity. The report said California motorists, already facing the highest average pump prices in the country, may be especially exposed if another supply disruption occurs.

Citing AAA and the Oil Price Information Service, the Post said the average price for self-serve regular gasoline in Los Angeles County reached $5.645 per gallon on Friday after 10 consecutive daily increases. The county average was up 24 cents over that period. The report also listed average prices of $5.76 in San Francisco, $5.58 in Oakland and $5.57 in San Jose, while California’s statewide average rose to $5.59, about 17 cents higher than a week earlier.

The article linked the increase to pressure across global energy markets, including constrained shipping through the Strait of Hormuz, threats to Red Sea routes, reduced Russian refining capacity after Ukrainian drone attacks, and Moscow’s diesel export ban. It also cited U.S. Energy Information Administration data showing domestic refineries operating at 96% capacity, with some regions at full utilization. The Post said wholesale diesel futures had risen sharply this month and refinery margins had reached record levels.

The report added that U.S. emergency reserves have already been heavily used, reducing the buffer available in a further crisis. For California, the impact is amplified by higher state fuel costs tied to taxes and environmental rules, often described as a “California premium” above the national average.