BURNSVILLE, N. C. (WLOS/WKRC) — Amid an international surge in the cost of fuel, a North Carolina gas station surprised drivers Thursday by dropping prices. Regular gas was selling for $2. 25 a gallon at the Burnsville Citgo at the corner of U. S. 19 East and Depot Street. The station's owners...
Gas started climbing again. Currently at 3.99 for unleaded. I can't wait to get out of ICE vehicles. I would just love to plug in my vehicle at home versus driving some where and paying close to 85 dollars for a tank for gas that only get 350 miles.
Right at $4/gallon around here. It is what it is. Not going to impact my habits in any way. I will drive when/where ever I need to drive. My ICE Silverado isn't also going anywhere when the EV rolls around.
The average price for gasoline in California hit $6 a gallon Tuesday for the first time -- and analysts at JPMorgan are warning that price could be the national average before the end of the summer.
"There is a real risk the price could reach $6+ a gallon by August," Natasha Kaneva, head of global oil and commodities research at JPMorgan, told CNN in an email on Tuesday.
With US gasoline inventories sitting at their lowest seasonal levels since 2019, JPMorgan is concerned it will be difficult to satisfy intense demand during this summer's driving season.
"With expectations of strong driving demand...US retail price could surge another 37% by August," JPMorgan wrote in its report, fittingly titled "Cruel Summer."
The national average for regular gas rose another two pennies on Tuesday to a record high of $4.52 of gallon, according to AAA. That leaves pump prices up by 15 cents in the past week and 44 cents in a month.
Really cheap gas is becoming much tougher to find. Georgia, Kansas and Oklahoma, the last three states with an average price below $4 a gallon on Monday, all crossed that threshold in Tuesday's reading.
The average price for regular gas in California surpassed $6 a gallon in Tuesday's AAA reading. The state's average of $6.02 a gallon is up sharply from $4.13 a year ago, and $5.84 only a week ago. Many larger cities are paying more: the average stands at $6.07 in Los Angeles County, and $6.27 a gallon in San Francisco.
Even in California, 52% of stations sell gas for less than $6 a gallon, and nearly one station in four is $5.75 a gallon or less. Stations that charge much higher prices inflate the average.
High-priced stations that are charging way more than general market prices are not limited to California. Gas is being sold for more than $5 a gallon in 29 states, according to OPIS, the service that collects gas price data for AAA. Six of them -- Alaska, Hawaii, Nevada, Oregon, Washington and California -- have a state average above that mark. So drivers nationwide could see some stations at or near $6, even if the national average never gets that high. Those station owners are satisfied with selling fewer gallons as long as they can fetch a higher price.