Gas prices are tumbling, except where they're not. Nationwide, average prices are falling at the fastest rate since January due to cheaper crude oil costs and the resolution of some refinery issues but in California, the gap between local prices and the rest of the country is bigger than ever.
AAA says that by the middle of last week, the national average price of gas had dropped for 16 days in row for a total of 11 cents per gallon. The national average price of gas on Wednesday was $2.66 per gallon, which is the lowest average for this time of year since 2009.
It feels good to see gas prices drop during the middle of the busy summer driving season, said Avery Ash, AAA spokesman. Millions of people are hitting the roads right now and these gas savings should make their trips more affordable.
But in California, the nation's most populous state, a different record has been broken -- this one for the biggest gap between what California consumers have paid at the pump versus the rest of the nation.
The nonprofit group Consumer Watchdog says Californians paid $1.2 billion more, after tax differentials, than the rest of the nation in the month of July, a record, and $4.8 billion more for their gasoline over the last six months ending July 31st, since gas price spikes started.
That amounts to $201 extra paid by each California driver, according to the groups calculations.
http://www.consumeraffairs.com/news/gas-prices-falling-nearly-everywhere-but-california-080915.htmlConsumer Watchdog's analysis of state data found that oil refiners were able to triple refiner margins the second week of July to a record $1.61 a gallon, representing the amount of money refiners receive for each gallon sold at the pump. The historical margin over the last fifteen years is 48 cents. The margin since the price spike began in February has averaged $1.05 per gallon, the group said.
A Chevron spokesman said the higher prices in California are the result of a fire at one refinery, a strike another, higher state taxes and a new state-mandated fuel regulation.
"While it is easy for groups like Consumer Watchdog and individuals like Tom Steyer to take one factor in our earnings out of context, what can't be taken out of context is the fact that many policies backed by Steyer are already increasing fuel prices for California consumers," Chevron's Braden Reddall said, AP reported.