State Average $2.65 - Up $0.07 in One Month, Says AAA
February 17, 2015 - Nationwide oil workers’ strike and rising crude oil prices are triggering an increase in the gas prices. Today’s state prices are registering at $ 2.65 on average for a gallon of unleaded gasoline—that’s $0.7 more than prices since AAA Northern California’s latest monthly gas survey of January 13, 2015.Northern California’s average price for a gallon of regular unleaded gasoline is $2.62— that’s $0.06 more than last month’s AAA reported price on January 13. The highest recorded price ever registered in the state of California was in October 2012, at $4.67 a gallon for unleaded regular.
The least expensive average price in Northern California can be found in Marysville, where regular unleaded gasoline is $2.46 per gallon. Of all metro areas tracked by AAA in Northern California, Eureka registers the highest price at $2.78 per gallon of unleaded regular.
Today the national average is $2.19, $0.12 higher than a week ago, and an increase of $0.04 from a month ago. Hawaii continues to be the only state with an average price over $3 mark. California’s average price, $2.65 is the highest in the contiguous states.
Refineries typically use the first months of the year for seasonal refinery maintenance in preparation for the high demand in the summer driving season. This maintenance can lead to decreased production and supplies. Another market uncertainty this week is that approximately 5,200 members of the United Steelworkers union have walked off their jobs at refineries and chemical plants responsible for processing more than 10 percent of U.S. petroleum products.
“While news of the strike has reportedly led to higher wholesale gasoline prices, the work stoppage is not expected to have a significant impact on production in the short-term because refineries continue to operate,” said Cynthia Harris, AAA Northern California spokesperson. “The abundant petroleum supplies may provide the refiners and union’s time to reach an agreement before there is a larger impact on consumers.”
An oversupplied global market is expected to keep the price of crude oil relatively low for at least the first half of 2 015. But, the global market’s overall volatility is at a six-year high and prices have fluctuated in response to many factors that put pressure on the balance of supply and demand.
This past week West Texas Intermediate (WTI) crude traded between the high $40s and low $50s reflecting market volatility. At the close of Friday’s formal trading on the NYMEX, WTI was up $1.21 to settle at $51.69 per barrel.
To get the best mileage possible, AAA recommends keeping tires at the recommended pressure suggested by the vehicle manufacturer, performing routine maintenance and making sure fluids are clean and belts and hoses are in good repair. The way you drive can also impact fuel economy. Smooth driving to avoid sudden stops and starts, combining trips and lightening a vehicle’s load also help to conserve gasoline.
AAA Fuel Gauge Report is the most comprehensive retail gasoline survey available, with over 100,000 self-serve stations surveyed every day, nationwide. Data is provided in cooperation with OPIS Energy Group and Wright Express, LLC.
AAA Northern California offers a wide array of automotive, travel, insurance, DMV, financial services and consumer discounts to more than 4.2 million members. AAA has been a leader and advocate for the safety and security of all travelers since it was founded 114 years ago.
