Wednesday, November 26th, 2014

Gas Prices Continue To Rise

gasoline

Average retail gasoline prices in California have risen 6.4 cents per gallon in the past week, averaging $4.22/g yesterday, according to GasBuddy's daily survey of 10,526 gas outlets in California. This compares with the national average that has increased 2.9 cents per gallon in the last week to $3.72/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in California during the past week, prices yesterday were 4.3 cents per gallon lower than the same day one year ago and are 57.2 cents per gallon higher than a month ago. The national average has increased 42.0 cents per gallon during the last month and stands 9.1 cents per gallon higher than this day one year ago.

"The streak is over," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "GasBuddy data showed the national average rising for 32 consecutive days- starting January 20 at $3.265/gal, and ending February 21 at $3.733/gal. The tide has now turned and the national average has dropped two days straight. This is certainly excellent news for disillusioned motorists- but I would caution them not to get overly thrilled as prices may linger near these levels for some time," DeHaan said.

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