California Gas Prices Jump 40 Cents to $4.58, Now $1.66 Above National Average
By Ben Smith California gas prices are climbing again, and the latest reporting shows the spike is accelerating. New reporting this week put the headline number plainly: "California drivers are reeling as average gas prices surged 40 cents per gallon in just two weeks to $4.58, far outpacing the national average of $2.92, driven by shrinking refining capacity from the Valero Benicia refinery wind-down and prior Phillips 66 closure in Los Angeles." The average California gas price is $4.58 per gallon, up from $4.46 last week and $4.18 two weeks ago. The national average, by contrast, sits at $2.92. That places California roughly $1.66 above the rest of the country. Here is what makes this different from routine volatility. Nationally, gas prices have trended down over the past year. California is diverging sharply. This is not seasonal fluctuation. It is a structural supply squeeze. Fresh reporting on the refinery closures driving the i...