07-12-2015, 06:25 PM
7-11-2015
California running out of oil and gas, price approaching $5
On Friday, some Chevron stations in Orange County already had topped $4 a gallon.
"It's happening," said Marie Montgomery, an Auto Club spokeswoman. "It does look like the average price may go over $4."
Montgomery attributed the rise to a 12-month low in supplies of California's unique blend of gas. She said there was a lack of the ingredients used in the blend.
Patrick DeHaan, a senior petroleum analyst at Gas Buddy, said California had become unattractive to foreign suppliers because prices had been dropping for months.
"We have no gasoline as of Monday heading for the California coast," DeHaan said. "It's a dire situation."
The troubles with supply exacerbated problems with refineries, though the rising gas prices have for months led to finger-pointing.
Some have accused oil companies of manipulating prices. The industry blamed an explosion and a strike at two refineries.
California running out of oil and gas, price approaching $5
On Friday, some Chevron stations in Orange County already had topped $4 a gallon.
"It's happening," said Marie Montgomery, an Auto Club spokeswoman. "It does look like the average price may go over $4."
Montgomery attributed the rise to a 12-month low in supplies of California's unique blend of gas. She said there was a lack of the ingredients used in the blend.
Patrick DeHaan, a senior petroleum analyst at Gas Buddy, said California had become unattractive to foreign suppliers because prices had been dropping for months.
"We have no gasoline as of Monday heading for the California coast," DeHaan said. "It's a dire situation."
The troubles with supply exacerbated problems with refineries, though the rising gas prices have for months led to finger-pointing.
Some have accused oil companies of manipulating prices. The industry blamed an explosion and a strike at two refineries.