Home Climbing California fuel costs hit a brand new file, $6 and climbing –...

California fuel costs hit a brand new file, $6 and climbing – Each day Bulletin

0
60

After three weeks of steady increases, the average price for a gallon of regular gasoline in California surpassed $6, a first for the state and the United States

The California average was $6.06 as of Thursday, according to the AAA.

Orange and Los Angeles counties had each traded above $6 in late March before prices fell. This week, the average price broke a new record on Wednesday and again on Thursday, with prices rising to $6.07 and $6.09 respectively.

High crude oil prices have pushed up pump prices, according to Andrew Gross, a national public relations manager for the AAA. The price of a barrel of Brent crude fell $2.82 to $109.11 on Wednesday. Brent crude oil is the global oil benchmark and accounts for about 80% of the world’s crude oil.

According to data from the AAA and the Oil Price Information Service, the average price of regular gas is up 32.3 cents in LA and 36.5 cents in Orange County.

LA County’s previous record of $6.07 was set on March 28, while Orange County’s previous record high was $6.029, set on March 29.

The median price for the Inland Empire continued to climb closer to the $6 mark. In Riverside and San Berardino counties, the median price hit $5.98 on Thursday. In Riverside, prices rose 4.2 cents in one day, breaking a record that stood for 50 days. The county high so far was set on March 29 at $5,971.

The national median price rose to a record for the 10th straight day, rising 2.2 cents to $4,589.

According to the US Energy Information Administration, the cost of crude accounts for a little more than half of the pump price. The remainder of the price includes the other components of the gasoline, production costs, distribution costs, overheads for everyone involved in production, distribution and sales, taxes and California carbon offset fees paid by the refiners.