Experts predict that California's drivers will briefly see prices higher than the current all-time record of $4.61. When will gas prices go down?
Brace yourself, Californians. Gas prices are going up. Again.
With the Golden State already paying some of the highest gas prices in the nation, California drivers will find it's going to get more costly than ever to fill their tanks.
According to Reuters, oil analyst Tom Kloza, chief oil analyst for Oil Price Information Service, expects the state's drivers will briefly see prices higher than the current all-time record of $4.61 a gallon.
Yesterday, the average price of a gallon of regular gasoline in the state was $4.31.
The soaring gas prices are due to a regrettable combination of three events.
First, state refineries have lowered production as they get ready to make the switch to "winter blend" gasoline.
Kloza doesn't expect the record gas-price levels to last for months, but only for weeks, perhaps even a few days.
But it may offer little comfort to Californians that their gasoline costs are still far lower than in other parts of the world.
Prices in California have been above $4 a gallon for many months now.