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Average price of gas in California edges past $6 a gallon, highest level in four years

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Average price of gas in California edges past $6 a gallon, highest level in four years
Analysts say Americans have now paid $21.7bn more to fill their tanks since the start of the US war on Iran Exxon and Chevron quarterly earnings fall despite soaring oil prices Sign up for the Breaking News US newsletter email The average price for a gallon of gas in California rose to $6 this week as fuel prices across the US reached their highest level in almost four years. The American Automobile Association reported on Friday that California consumers were paying an average of $6.06, while the national average hit $4.39. The Golden state is the most expensive US market for gas but costs have also risen nationally with a 27-cent rise this week following two weeks of falling prices, AAA said in a statement. Continue reading...

Analysts say Americans have now paid $21.7bn more to fill their tanks since the start of the US war on IranExxon and Chevron quarterly earnings fall despite soaring oil pricesSign up for the Breaking News US newsletter emailThe average price for a gallon of gas in California rose to $6 this week as fuel prices across the US reached their highest level in almost four years.The American Automobile Association reported on Friday that California consumers were paying an average of $6.06, while the national average hit $4.39. The Golden state is the most expensive US market for gas but costs have also risen nationally with a 27-cent rise this week following two weeks of falling prices, AAA said in a statement.The surge marks the peak in prices since the start of the US war with Iran, which has significantly disrupted the global oil market and driven up gas prices around the world.The conflict has had significant impacts on US consumers. Americans have paid $21.7bn more to fill their gas tanks since 1 March, Patrick De Haan, the head of petroleum analysis at the firm GasBuddy, said on Thursday. Across the US, gas prices have risen about 44% since late February.Because of the California’s strict emissions standards, high taxes and reliance on imported petroleum, state residents already pay more for gas than anywhere else in the US. California’s fuel stockpiles hit record lows in April, and gasoline imports dropped sharply.“California is arguably the state most impacted by the strait of Hormuz in the United States, which has been largely insulated from the events,” said Denton Cinquegrana, chief oil analyst at Dow Jones Energy.With prices rising across the US, Gavin Newsom, the California governor, has been critical of Donald Trump.“Every American who fills up their tank this week, buys groceries or books a flight is paying Donald Trump’s Iran war tax,” Newsom said in a press release on Thursday.Miguel Angel Cruz, who owns a landscaping business that requires him to drive, told Reuters that he used to fill up his truck for $50 but it now costs $80.“I cannot drive any less,” Cruz said. “Every time we get a new president in the White House, they say this year is gonna be better. But nothing’s changed. It’s the same story, except now it’s worse because of the war in Iran.”A recent survey found that people are planning fewer vacations over the next six months, and far fewer people are planning to drive to their destinations.The US is celebrating the 100th anniversary of Route 66, which stretches across eight states to connect Chicago with Los Angeles, with a series of events. About 41% of Americans planned to visit some portion of the route during this year’s celebration, according to an AAA survey.Reuters contributed reporting

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