GasBuddy Experts Warn of Impending Fuel Price Surge as Refineries Operate at 80%

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GasBuddy experts advise people to brace for a rise in fuel prices as demand increases with warming weather and refineries operate at only 80% of capacity.

Despite statewide average gas prices hovering around $4.60 per gallon, slightly lower in Lassen and Plumas, the Californian rates remain notably above the national average of $3.26.

Patrick De Haan, head of petroleum analysis at GasBuddy, said about the stabilization of fuel prices “While the pause has certainly been nice, this is more like a rain delay”, emphasizing that it’s just a matter of time before prices head higher. Currently, oil costs are around $76 per barrel, with a potential acceleration due to decreased production by refiners and rising demand.

Interestingly, while the top 10% of gas stations nationwide average $4.40 per gallon and the bottom 10% average $2.70, California still claims the title for the highest average prices, trailing only closely behind Hawaii.

 

Photo: AAA Gas