California Gas Prices Soar Past National Average Amid Crude Oil Instability
California drivers are still facing high gas prices as the state average rose by 7 cents to $5.64 per gallon, according to data from AAA Mountain West Group. This is in contrast to the national average of $4.09 per gallon, which has held steady this week.
The main reason for the discrepancy is the current price of crude oil, which hovers around $80 per barrel due to instability along the Strait of Hormuz. The Energy Information Administration (EIA) reports that gasoline demand increased last week from 8.94 million to 9.04 million barrels per day.
Aldo Vazquez, spokesperson for AAA Mountain West Group, noted in a statement: 'August brings some relief at the pump as road trips wind down and fall routines get underway for many families.' However, he also cautioned that elevated crude oil prices could prevent this seasonal shift from happening just yet.