Gasoline price has gone up in California
heating oil
According to the government report released, the gasoline prices have surged during the past week on an average of 14 cents per gallon in California and 9 cents per gallon nation wide. On the other hand, the price of oil has been plummeted.
The energy department’s weekly survey revealed that the California drivers are paying $3.328 dollars per gallon which was increased to $3.465 i.e.53.2 cents high when compared to last year. The national price for unleaded gasoline is $3.13 per gallon which has been increased to $3.218 i.e.75 cents higher than passed year’s price. The diesel price has been recorded to $3.552 per gallon i.e. an increase of $1 per gallon from last year’s price.
The diesel price in California has reached to $3.672 per gallon which hit the previous record of $3.662 per gallon, set on Nov.12.Analysts view that the gas prices may range from $3.75 to $4 this spring. The latest prediction made by energy department is that the gas prices may reach $3.4 per gallon due to excessive driving, extensive maintenance of refinery and expensive crude.
Tom Kloza, the publisher and chief oil analyst of Oil Price Information Service says that there will be always a lag between the wholesale and retail prices. Tim Evans, an energy analyst at City Group Global Markets said that they have recorded high prices, but they did not have the light inventories.
The light sweet crude for April delivery has climbed to $99.7 per barrel and finally settled at $99.23.
According to the government report released, the gasoline prices have surged during the past week on an average of 14 cents per gallon in California and 9 cents per gallon nation wide. On the other hand, the price of oil has been plummeted.
The energy department’s weekly survey revealed that the California drivers are paying $3.328 dollars per gallon which was increased to $3.465 i.e.53.2 cents high when compared to last year. The national price for unleaded gasoline is $3.13 per gallon which has been increased to $3.218 i.e.75 cents higher than passed year’s price. The diesel price has been recorded to $3.552 per gallon i.e. an increase of $1 per gallon from last year’s price.
The diesel price in California has reached to $3.672 per gallon which hit the previous record of $3.662 per gallon, set on Nov.12.Analysts view that the gas prices may range from $3.75 to $4 this spring. The latest prediction made by energy department is that the gas prices may reach $3.4 per gallon due to excessive driving, extensive maintenance of refinery and expensive crude.
Tom Kloza, the publisher and chief oil analyst of Oil Price Information Service says that there will be always a lag between the wholesale and retail prices. Tim Evans, an energy analyst at City Group Global Markets said that they have recorded high prices, but they did not have the light inventories.
The light sweet crude for April delivery has climbed to $99.7 per barrel and finally settled at $99.23.
