According toAAA, California’s average gas price is $6.42 a gallon – far above the national average of $3.86 Other states like Florida, Georgia and Texas have not seen a significant gas price increase. Prices there have stayed close to the national average. So, why are California gas pr...
according to data from the U.S. Energy Information Administration (EIA). So, a major reason gas prices are so high is that oil prices are still higher, on average, than they were before the pandemic and Russia’s invasion of Ukraine. That’s based on the price of West Texas Intermediate...
Ahiza Garcia
Not surprisingly, soaring gas prices are having a very real impact on household budgets: A typical family may incuradditional costs of $2,000 this yearsimply due to the higher costs, according to one Wall Street estimate. On March 11, gas prices again reached a new peak, an average of$4....
Current gas prices are painful but likely tolerable for some time. The more effective sanctions, however, might produce major political pushback. Either way, I suspect the world's oil markets will likely adjust and find a new equilibrium by the end of the year. We probably won’t get back...
Inflation peaked at 40-year highs in 2022. While the rate of inflationhas come down, it is still higher than the Federal Reserve's target. The Bureau of Labor Statistics tracks changes in the sizes of consumer products in order to accurately capture the changes in prices for goods and s...
Gas prices over $6.00 per gallon are displayed at a gas station on May 18, 2022 in Petaluma, California, when gas prices in California surpassed $6.00 per gallon for the first time ever. The average price per gallon of regular unleaded gasoline in California at the time was between $6.05...
"The cost of natural gas is higher. That's not PG&E'S fault. That's not Southern California Edison's fault," said Lucas Davis, a leading expert on energy economics at UC Berkeley. According to Davis, Californians are experiencing some of the highest natural gas prices in the last 20 ...
Average gas prices also change throughout the year, peaking in the summertime months between May and August when people are traveling and demand is highest. Thesummer blend of gas is also more expensiveto produce and can contribute to overall higher gas prices during this time. According to the...
(CNN) — Gas prices are skyrocketing, and Americans want to save at the pump. That plays right into the hands of Costco, BJ’s Wholesale Club and Sam’s Club. The national gas price averagejumpedto $3.41 a gallon Friday, according to AAA, 61% higher than the average at the same time...