California gas prices hit $3.76, highest since late 2019

For The golden state chauffeurs seeking some excellent news at the pump, gas prices had their tiniest gain in 5 weeks.

Still, the ordinary rate for a gallon of routine gas increased 3 cents to $3.76 in the past week– the highest possible in 68 weeks, according to the UNITED STATE Power Information Management as of March 22. Prices are up $1.12 considering that the pandemic low of $2.64 last May– a 42% increase. The last time it was greater? Nov. 18, 2019.

Pump costs statewide have actually increased for 14 successive weeks as the gas’s essential active ingredient, crude oil, rose in rate. West Texas Intermediate, a UNITED STATE standard for unrefined oil, is up 18% this year to $62 a barrel recently. Perhaps vehicle drivers will obtain some alleviation quickly as unrefined oil costs dipped to $58 early today.

Gas’s 2021 surge contrasts sharply to rates that tumbled 21% in 2 months last springtime as pandemic “remain at residence” limitations reduced traveling and also fuel demand. Since after that, a resuming economic climate, plus manufacturing cuts worldwide, boosted gasoline rates.

More expensive gas is not just a The golden state trend.

Across the country, a gallon of regular gas set you back an average $2.87 last week– up 1 cent in a week and up 85 cents or 60% since last springtime’s $1.77 low. That space between state as well as UNITED STATE costs is 31% vs. a typical 32% in the last 5 years.

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