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2012 Gas Prices - Full Coverage
Latest Post: 10/24/2012 10:06 AM First Post: 09/25/2011 12:36 PM (38 stories) 6 pictures 3 videos
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Latest Update Gas gets cheaper, but still isn't cheap

10/24/2012 10:06 AM by Associated Press

NEW YORK (AP) - Gasoline across the U.S. is cheaper after a week of rapid price declines. But it still isn't cheap.

The national average for a gallon of gas has dropped 13 cents in the p… Click to Read More and see additional updates




Latest Update Gas gets cheaper, but still isn't cheap

10/24/2012 10:06 AM by Associated Press

NEW YORK (AP) - Gasoline across the U.S. is cheaper after a week of rapid price declines. But it still isn't cheap.

The national average for a gallon of gas has dropped 13 cents in the past week to $3.625. That's the biggest weekly decline since the 7-day period ended Nov. 28, 2008, according to Oil Price Information Services analyst Fred Rozell.

Falling oil prices, rising supplies of gasoline and a switch by refiners to cheaper winter blends of gas have contributed to lower pump prices.

But gasoline is still more expensive than it's ever been for this time of year. The previous record for Oct. 23 was last year's $3.46 per gallon.

Rozell says gasoline has averaged $3.65 so far this year, 10 cents above the record set in 2011.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Legislative hearing set on high Calif. gas prices

10/10/2012 12:58 PM by The Associated Press

SACRAMENTO, Calif. (AP) - A state senator called for a legislative hearing regarding California's oil refineries after Chevron announced that a unit at its Richmond refinery will remain closed until next year.

Sen. Mark Leno said Wednesday that recent price spikes and shortages "indicate serious problems" with the state's 15 refineries. The San Francisco Democrat is chairman of the Senate Select Committee on Bay Area Transportation.

The committee will meet next month to consider the safety and reliability of California's gasoline production system and how it affects prices and the economy.

Leno says refineries have no incentive to keep their operations going because oil companies' profits increase whenever there is a disruption in supply.

A fire at Chevron's Richmond refinery in August contributed to a spike that pushed gas prices near $5 a gallon.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


AAA: San Luis Obispo has highest average gas price in state

10/10/2012 12:35 PM by The Associated Press

LOS ANGELES (AP) - California gas prices finally have begun to fall after a month that saw them surging by nearly 50 cents a gallon - but a continuing refinery shutdown may keep supplies short.

The AAA Daily Fuel Gauge Report says the average price of regular Wednesday is less than $4.67 a gallon, down a half-cent from Tuesday. It's still the highest price in the nation, however.

The top average price in the state is $4.75 a gallon in the San Luis Obispo area.

State officials predicted prices would fall after Gov. Jerry Brown ordered early production of a winter fuel blend to replace costlier summer blends.

The spike was partly driven by an August fire that partially closed a Richmond refinery. Chevron says it will remain closed through December.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Gas prices set California record, Central Coast has highest prices

10/09/2012 05:02 AM by Associated Press

LOS ANGELES (AP) - - California has set a state record for gasoline prices - but the hikes may be slowing.

The AAA Daily Fuel Gauge Report for Tuesday says the average price of regular jumped only a fraction of a cent overnight - compared to nearly 50 cents in the past week. It's now a bit over $4.67 a gallon.

That's still the highest price in the nation and an all-time high for the Golden State.

The highest average price - at $4.75 - is in the San Luis Obispo, Atascadero and Paso Robles area. San Diego has $4.72 a gallon and the Los Angeles area about $4.71.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


What's with these gas prices?

10/08/2012 06:29 PM by Cameron Polom, KSBY News

U.S. Senator Dianne Feinstein has called for a federal investigation into gas prices in California because she doesn't think they are related to supply and demand.
Governor Jerry Brown over the weekend ordered state smog regulators to allow winter-blend gas to be sold three weeks early in our state.
However there are a number of factors that go into spiking these prices, from wall street speculation to refinery fires like we saw in Richmond.

"It takes me about one hundred and thirty bucks to fill this thing," says one local resident.

"Fifty nine dollars and forty three cents and I'm guessing I got half a tank," said another resident.

In less than a week, gas prices in both San Luis Obispo County and Santa Barbara County jumped almost fifty cents.

"It's going to hurt everyone around here," said one resident while filling up.

The US Energy Information Administration says as of April 2012, crude oil prices made up 66 percent of the price of gas.

The rest of the pump price depends on refinery and distribution costs, corporate profits and federal taxes. Here in California we also have the added cost of seasonal blending.

And Governor Brown hopes going to winter blend now will bring down those prices.

"It wont have any immediate affect on prices," says Ken Dewar, a San Luis Obispo gasoline wholesaler.

Ken Dewar is a commercial gasoline wholesaler in San Luis Obispo and he says blending is only a small factor in the price of gas.

"It's the perfect storm, we would normally be going from summer grade gasoline to winter grade," says Dewar.

During the changeover period, refineries have less supply of either blend. But Dewar says oil speculation in the stock market has an even bigger impact on prices.

"A lot of speculation in the market of how long we're going to be at these prices, the market is full of speculators who buy and sell on a daily basis," says Dewar.

Prices of oil futures change daily, depending on what investors think the price will be in the months and years ahead.

Large wall street firms can invest billions of dollars a day in the futures market, shifting gas prices significantly.

If oil traders think demand will increase because the global economy is growing, they will drive up the price of oil.

And all this can create high oil prices, even when there is plenty of supply to go around.

Again, the blending process required here in California is a state mandate.

It makes for cleaner burning fuel but also increases the cost at the pump.


Feinstein wants investigation of Calif. gas prices

10/08/2012 07:24 AM by Associated Press

LOS ANGELES (AP) - Sen. Dianne Feinstein has called for a federal investigation into gas prices in California because she doesn't think they are related to supply and demand.

Californians are paying an average of $4.668 a gallon, the highest price in the nation. Many motorists are paying over $5.

Feinstein says that paying hundreds of dollars every time you fill your tank is unthinkable. For the second time in the last few months, the California Democrat has sent a letter to the Federal Trade Commission asking for an immediate probe.

She also asked in August when gas was 45 cents cheaper.

Gov. Jerry Brown over the weekend ordered state smog regulators to allow winter-blend gas to be sold three weeks early in the state.

Experts are predicting prices will climb to $4.85 before coming down.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Calif. gas prices hit all-time high

10/06/2012 12:56 PM by ASSOCIATED PRESS


LOS ANGELES (AP) - It's a record, though just barely. The price of gasoline has hit an all-time average high in California of $4.6140 a gallon, fueled by a reduced supply and a volatile market.

AAA spokesman Michael Green says Saturday's price set the record by a fraction of a penny.

The previous high was $4.6096 on June 19, 2008.

Prices throughout the state are expected to increase for several more days before leveling off, after a temporary reduction in supply triggered a price spike.

AAA's Daily Fuel Gauge report released Saturday said the average price for a gallon of regular unleaded across California rose 12 cents from its Friday mark of about $4.49.

The Golden State has leapfrogged Hawaii as the state with the most expensive fuel.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


CA Energy Commission says gas prices should fall

10/05/2012 05:56 PM by The Associated Press

SACRAMENTO, Calif. (AP) - The California Energy Commission has determined that the state has plenty of gasoline to meet consumer demand and says prices at the pump should start to fall next week.

Commission spokeswoman Alison ApRoberts says a series of problems at refineries around the state led to a price spike, including a surge of 17 cents a gallon on Friday. But Exxon Mobil announced that it was reopening its Torrance refinery after an unplanned shutdown, and supplies are rebounding.

A week of soaring costs has led some California stations to close and others to charge record prices.

On Friday, ApRoberts said prices on the wholesale market had peaked. She says consumers should start to see falling prices over the next week.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Gas prices soar across the region

10/04/2012 11:25 PM by Kathy Kuretich

The prices are painful, and some gas stations are beginning to run out of inventory, because the cost of wholesale gas is too high.

According to AAA, the average price in San Luis Obispo County on Thursday is $4.41.
Just a week ago, it was $4.21

In Santa Barbara County, it's $4.37, also 20 cents more than a week ago.

Experts said several factors are leading to a shortage, and driving prices up.

There have been several problems at refineries, lately... including a power failure which slowed a Southern California Exxon Mobil Corp. refinery, a San Fransisco area Chevron pipeline was shut down, and there was a fire at a Richmond Chevron refinery.

Also adding to the shortage - refineries are transitioning from a "summer blend" to a "winter blend", due to California strict pollution limits.

In Marina Del Ray on Thursday, drivers were turned away from Costco after they ran out of gas. And it's happening on the Central Coast, too.

At the Conserv Gas Station in San Luis Obispo, the pumps are dry.
The manager wouldn't tell us why, but some gas stations in the region have just stopped buying gasoline on the wholesale market.

The owner of University Gas in San Luis Obispo, says gas prices have jumped 35 cents in the past three days and its having an affect on business.
"The people are coming less, they're buying less and traffic is less," said Golam Mostafa.

But he's made sure his pumps are filled even though it's costing him a a lot more too. He said he paid $5000 dollars more for gas this week, compared to last week.
"Customers depend on us. They need to go to work, they need gas, so no matter what how high price or low price we need to keep inventory in our tank," he said.

According to reports out Thursday, wholesale prices are up $1 dollar a gallon... but retail prices are up 30 cents.
Experts expect consumers will be making up the difference, soon.


Gas prices hit $8 in NJ, Pa. in Lukoil protest

09/12/2012 09:59 AM by Associated Press

SOUTH PLAINFIELD, N.J. (AP) - Lukoil North America is defending its pricing practices in response to a protest in New Jersey and Pennsylvania by more than 50 independent dealers.

The dealers increased prices to more than $8 a gallon Wednesday to raise consumer awareness about what they say are Lukoil?s unfair wholesale prices. They say they?ve been put at a competitive disadvantage.

Lukoil says the complaints appear directed at "zone pricing," or varying prices charged to dealers based on what is happening in local marketplaces. The company says it?s a "commercially reasonable" practice in compliance with state law.

Lukoil accuses the New Jersey gas station association of encouraging "public misstatements and ill-conceived actions" that harm consumers.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Gas prices up 7 cents over 2 weeks

08/26/2012 12:13 PM by ASSOCIATED PRESS

CAMARILLO, Calif. (AP) - The average U.S. price of a gallon of gasoline has jumped 7 cents over the past two weeks.

That's according to the Lundberg Survey of fuel prices, released Sunday, which puts the price of a gallon of regular at $3.76.

Midgrade costs an average of $3.91 a gallon, and premium is at $4.04.

Diesel rose 13 cents to $4.05 a gallon.

Of the cities surveyed in the lower 48 states, El Paso, Texas, has the nation's lowest average price for gas at $3.32. Chicago has the highest at $4.22.

In California, the lowest average price was $4.03 in Bakersfield. San Francisco has the highest at $4.13. The average statewide for a gallon of regular was $4.09.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


White House considering measure to ease gas prices

08/17/2012 09:48 AM by Associated Press

NEW YORK (AP) - A senior Obama administration official says the White House is considering a potential release of oil from the Strategic Petroleum Reserve.

The U.S. is monitoring gas prices to see whether they fall before making a decision, said the official, who requested anonymity because they were not authorized to speak publicly.

Gas prices in the U.S. have risen an average of 39 cents since early July, because of an increase in oil prices and refinery problems in some regions.

Benchmark crude is up 22 cents to $95.82 in midday trading in New York. It has gained three percent this week on positive economic data and a drop in U.S. oil supplies. It's up 23 percent since late June.

Brent crude, which is used to price international varieties, fell almost 2 percent.


Gas prices pass the $4 mark in California

08/13/2012 10:53 AM by NBC News (CC)


Drivers are doing a double take at gas stations as the nation experiences the biggest, two-week gas price hike this year.

According to the Lundberg Survey, a gallon of regular unleaded gasoline has increased 24 cents from July to an average of $4.07 in California.

The drought in the midwest has increased the cost of corn-based ethanol and supply problems from refineries, such as last week's fire at a Bay Area facility, have fueled the price hikes.


Nationally, gas prices headed lower

08/10/2012 07:51 AM by Associated Press

NEW YORK (AP) - The price of oil is lower on fresh concerns about the Chinese economy and a lower forecast for global demand for crude.

China said Friday that the country's exports grew just 1 percent in July from a year earlier while import growth slowed to 4.7 percent. That suggests growth continues to slow in the world's second-largest economy.

Meanwhile, the International Energy Agency lowered its forecast for global crude demand for the year to 89.6 million barrels a day from 89.9 million.

Benchmark crude fell 90 cents to $92.47 a barrel in New York. In London, Brent crude dropped 97 cents to $112.25 on the ICE Futures exchange.

At the gas pump, the U.S. average rose a penny overnight to $3.67 per gallon. That's up about 10 cents from last week.


Experts: California refinery fire will boost gas prices

08/07/2012 11:06 AM by Associated Press

RICHMOND, Calif. (AP) - Analysts say a fire at one of the country's biggest oil refineries will contribute to higher prices at the pump on the West Coast.

The fire at the Chevron refinery in Richmond, about 10 miles northeast of San Francisco, broke out Monday evening.

It sent plumes of black smoke over the San Francisco Bay area and sent scores of people to hospitals with breathing problems before it was out the following morning.

Tom Kloza, chief oil analyst at Oil Price Information Service, says Chevron's refinery is big and important to the market.

With inventories of gasoline in the region already low compared with the rest of the country, Kloza says pump prices in California and elsewhere on the West Coast will soon average more than $4 per gallon.


Spike in gas prices

07/30/2012 04:25 AM by Katie Ferber, KSBY News

Gas prices jumped more than nine cents a gallon over the past two weeks.

The national average is now $3.50 for regular.

In California the price rose nearly 10 cents per gallon to an average $3.76 for regular.

Here in on the Central Coast the average is $3.80.

Prices are still about 46 cents a gallon less, on average, than they were in April.


Gas prices surge almost 10 cents over past 2 weeks

07/29/2012 12:11 PM by CJ, The Associated Press

CAMARILLO, Calif. (AP) - The average U.S. price of a gallon of gasoline has increased by 9.5 cents over the past two weeks, the first price rise since April.

The Lundberg Survey of fuel prices on Sunday put the average price for a gallon of regular at $3.51.

Analyst Trilby Lundberg says even with the increase, the price remains 46 cents below the April 6 peak of $4.07.

Nationally, a gallon of mid-grade averages $3.66 and premium $3.78

Jackson, Miss., has the nation's lowest price at $3.18, while Long Island, N.Y., had the highest at $3.83.

In California, the price rose 9.8 cents per gallon to an average $3.76 for regular, $3.87 for mid-grade and $3.96 for premium.

Bakersfield had the lowest price, $3.67 for regular, and San Francisco had the highest, $3.80.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


US gas prices down about 7 cents over past 3 weeks

07/16/2012 03:38 AM by Associated Press

CAMARILLO, Calif. (AP) - The average U.S. price of a gallon of gasoline has dropped about 7 cents over the past three weeks.

The Lundberg Survey of fuel prices puts the average price for a gallon of regular at $3.41.

Analyst Trilby Lundberg said Sunday that the national average for a gallon of mid-grade is $3.57. For premium it's $3.69 a gallon.

Lundberg says diesel prices fell 5 cents a gallon over the past three weeks, to $3.73.

Jackson, Miss., had the nation's lowest average price for gas at $3. Chicago had the highest at $3.78.

In California, the lowest average price was $3.59 in Fresno, while San Franciscans paid the highest price at $3.73.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Gas prices continue to fall on worries about Spain's financial crisis

06/25/2012 09:25 AM by Associated Press

NEW YORK (AP) - The price of oil is falling as Spain's banking crisis adds to concerns about the weak European economy.

Benchmark U.S. crude on Monday fell by $1.26 to $78.50 per barrel in New York. Brent crude lost 56 cents to $90.42 per barrel in London.

Prices fell after Spain asked for a loan to support banks following a collapse in its real estate sector.

Tropical Storm Debby also appeared to be shifting away from the heart of America's oil production in the Gulf of Mexico, reducing the chances for a sustained disruption in U.S. supplies.

At the pump, U.S. retail gasoline prices fell by 4 cents over the weekend to a national average of $3.41 per gallon. Experts say gas could fall by another 11 cents by the Fourth of July.


Gas prices drop 15 cents over 2 weeks

06/24/2012 01:05 PM by CJ, The Associated Press

CAMARILLO, Calif. (AP) - The average U.S. price of a gallon of gasoline has dropped 15 cents over the past two weeks.

That's according to the Lundberg Survey of fuel prices, released Sunday, which puts the price of a gallon of regular at $3.48.

Midgrade costs an average of $3.65 a gallon, and premium is at $3.77.

Diesel dropped 13 cents to $3.78 a gallon.

Of the cities surveyed in the lower 48 states, Jackson, Miss. has the nation's lowest average price for gas at $3.03. San Francisco has the highest at $3.95.

In California, the lowest average price was $3.77 in Sacramento. The average statewide for a gallon of regular was $3.86, down 27 cents.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Gas prices drop average 16 cents over past 3 weeks

06/10/2012 11:08 AM by Associated Press

CAMARILLO, Calif. (AP) - The average U.S. price of a gallon of gasoline has dropped 16 cents over the past three weeks.

That's according to the Lundberg Survey of fuel prices, released Sunday, which puts the price of a gallon of regular at $3.62.

Midgrade costs an average of $3.79 a gallon, and premium is at $3.91.

Diesel dropped 18 cents to $3.91 a gallon.

Of the cities surveyed in the lower 48 states, Jackson, Miss. has the nation's lowest average price for gas at $3.18. Seattle has the highest at $4.22.

In California, the lowest average price was $4.03 in Sacramento and the highest was in San Francisco at $4.21 The average statewide for a gallon of regular was $4.12, down 20 cents.


National gas prices down 6 cents in past 2 weeks

05/20/2012 12:23 PM by CJ, The Associated Press


CAMARILLO, Calif. (AP) - The average U.S. price of a gallon of gasoline has dropped six cents over the past two weeks.

That's according to the Lundberg Survey of fuel prices, released Sunday, which puts the price of a gallon of regular at $3.78.

Midgrade costs an average of $3.94 a gallon, and premium is at $4.06.

Diesel dropped six cents to $4.09 a gallon.

Of the cities surveyed, Memphis has the nation's lowest average price for gas at $3.34. San Francisco has the highest at $4.36.

In California, the lowest average price was $4.24 in Fresno. The average statewide for a gallon of regular was $4.33, up about 16 cents.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


West Coast spike in gas prices tied to refineries

05/14/2012 03:20 PM by Associated Press

PORTLAND, Ore. (AP) - Motorists across most of the country have been getting a break on gas prices, but not on the West Coast.

The average price for a gallon of regular gasoline in Oregon is $4.17. That's up 16 cents from last week.

The average is $4.20 in Washington state and $4.35 in California. Both of those states also had double-digit increases.

Meanwhile, the national average price dropped 5 cents to $3.73.

Analysts say a shortage tied to refinery issues has caused price to spike in the region's wholesale market.

The planned restart of a BP refinery in Washington state failed last week, and five of California's 12 refineries have reduced production because of scheduled maintenance.

Analysts expect the surge in prices to be short-lived as refineries return to normal production.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Local gas prices are lower than at this time last year

04/30/2012 02:03 PM by Kelly Orsini, KSBY News

According to AAA, average gas prices on the Central Coast have dropped below prices recorded at this time last year.

In San Luis Obispo County, the average price for regular unleaded gas was $4.23 per gallon Monday. The average price was $4.32 per gallon one year ago.

In Santa Barbara County, drivers are currently paying an average of $4.22 per gallon, down from $4.30 per gallon at this time last year.

Despite that, AAA says prices in Southern California and on the Central Coast are still about 50 cents higher than they were on January 1, even after six straight weeks of declines.

KSBY News is on Pump Patrol and will bring you the cheapest gas priecs locally on our news at 5 and 6.


Gas prices drop more than a dime in one month

04/16/2012 12:03 PM by Kelly Orsini, KSBY News

Average gas prices are down by 12 to 15 cents locally from last month, and in some places prices are well below average. {pictured: Morro Bay}

According to AAA, the average price for a gallon of regular gas was $4.30 in San Luis Obispo County Monday. At this time last month, the average was $4.42.

In Santa Barbara County, unleaded gas is selling for an average of $4.29 per gallon, down about 15 cents from this time last month.


Drivers to pay 6 pct more for gas this summer

04/10/2012 11:15 AM by Associated Press (SR)

NEW YORK (AP) - U.S. drivers will pay an average of 24 cents more per gallon for gasoline during this summer's travel season, the government says.

The Energy Information Administration says gasoline will cost an average of $3.95 per gallon from April through September, an increase of 6.3 percent from the same period last year. The peak monthly average should be $4.01 in May.

The government says there's a small chance the price for a gallon could climb as high as $4.50 in June.

Costs are rising with the price of crude oil, the main component in gasoline and other fuels.

Americans have responded to high prices by using less gasoline. But because gas has risen so quickly, they're still expected to spend $250 more on average per household for gas this year.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Gas prices down slightly locally

04/02/2012 10:14 AM by Kelly Orsini, KSBY News

According to AAA, gas prices on the Central Coast are down about three cents compared to one week ago.

New figures show the current average price for a gallon of regular unleaded gas in San Luis Obispo County is $4.37, down from $4.40 per gallon at this time last week.

In Santa Barbara County, the current average price for regular unleaded gas is $4.38 per gallon, down from $4.41 per gallon last week.


Gasoline prices jump a nickel over the weekend

03/12/2012 08:20 AM by Associated Press (CM)

NEW YORK (AP) - The price of gasoline has reached $3.80 per gallon after jumping by nearly a nickel over the weekend.

Experts say pump prices are rising on the expectation that supplies will dip next month while refineries switch from winter to summer gasoline blends. Forecasts see gas rising as high as $4.25 per gallon in late April.

Drivers in Hawaii are paying the most at $4.44 per gallon, while those in Wyoming are paying the least at $3.30 per gallon.

Meanwhile, oil prices fell $1.43 to $105.97 per barrel in New York after Chinese trade data suggested a weakening global economy. Natural gas dipped to a new 10-year low at $2.25 per 1,000 cubic feet.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


UPDATE: Gasoline prices level off this week

03/09/2012 09:25 AM by Associated Press, MN

NEW YORK (AP) - Gasoline prices are a little lower this week after 39 days of increases, though experts say they should rise again this spring.

The national average, which stayed at $3.758 per gallon on Friday, was down about a penny since Monday. Prices are still at the highest levels ever for this time of year.

Tom Kloza, chief analyst at the Oil Price Information Service, says prices dipped this week as suppliers conduct the equivalent of a spring clearance. They're discounting winter gasoline blends to make room for different blends that are required for summer driving.

Meanwhile, benchmark oil prices rose by $1.42 to $108 per barrel in New York. Brent crude rose 46 cents to $125.90 per barrel in London.


Gas Prices Drop, But Only Slightly

03/09/2012 08:27 AM by Associated Press (DS)

NEW YORK (AP) - Gasoline prices are a little lower this week after 39 days of increases, though experts say they should rise again this spring.

The national average, which stayed at $3.758 per gallon on Friday, was down about a penny since Monday. Prices are still at the highest levels ever for this time of year.

Tom Kloza, chief analyst at the Oil Price Information Service, says prices dipped this week as suppliers conduct the equivalent of a spring clearance. They're discounting winter gasoline blends to make room for different blends that are required for summer driving.

Meanwhile, benchmark oil prices rose by $1.42 to $108 per barrel in New York. Brent crude rose 46 cents to $125.90 per barrel in London.


High gas prices forces locals to take the bus

03/08/2012 08:03 PM by Nikki Ibarra

As gas prices remain high, some people on the Central Coast are now finding ways to avoid those trips to the gas pump.

According to AAA, the national average cost of a gallon of unleaded gas is $3.75.

Here in California, things are a lot higher. On average, a gallon of unleaded costs $4.34. In San Luis Obispo County, the average amount for unleaded is $4.40. In Santa Barbara County, it's a little more at $4.42.

"Getting around town is a lot easier on the bus," said Kyle Faulkner of Gaviota.

Kyle Faulkner is new to the bus system. He had to stop driving his truck, which got 14 miles to the gallon. Now, he's a regular at the bus stop. "Filling up my gas tank, I've got other things that I need to do. Paying bills, paying off, you know, certain things," said Faulkner.

But he's not the only one who's gotten rid of their ride. "No more cars for me," said June Anderson of Santa Maria.

June Anderson got rid of her car all together. She says riding the bus is more affordable.

According to the American Public Transportation Association, taking the bus could save you up to $1,200 a month.

"I did the math and I realized, you know, it's actually cheaper just to pay the $1.25 or a dollar if you're a student and ride the bus," said Jasper Morse of Orcutt.

For a regular monthly pass on the San Luis Obispo Regional Transit, it will cost you $60. To ride the Santa Maria Area Transit, it's $40; which fits perfectly in Kyle Faulkner's new budget.

"I've been able to do more things. I've been able to go more places now that I'm not spending my money on gas," said Faulkner.


Oil and gasoline prices continue to march higher

03/01/2012 08:54 AM by Associated Press, MN

NEW YORK (AP) - Indications that the U.S. economy is getting stronger helped push benchmark crude up 70 cents to $107.77 per barrel in New York on Thursday.

Gas pump prices continued a five-week rise to a national average of $3.74 per gallon. That's up 37 cents per gallon, or 11 percent, since late January.

Economic data released Thursday showed applications for unemployment hit a four-year low, spending on residential construction rose and major retailers reported stronger-than-expected sales for February.

Oil prices have risen 9 percent this year because global demand is high and there is concern that tension with Iran over its nuclear program could lead to supply disruptions.

U.S. oil demand has been falling, but the slide in demand could slow or reverse if the economy picks up.


National gas prices up 18 cents in past 2 weeks

02/26/2012 04:21 PM by KO, The Associated Press

CAMARILLO, Calif. (AP) - The average U.S. price of a gallon of gasoline has jumped 18 cents over the past two weeks.

That's according to the Lundberg Survey of fuel prices, released Sunday, which puts the price of a gallon of regular at $3.69.

Midgrade costs an average of $3.83 a gallon, and premium is at $3.95.

Of the cities surveyed, Denver has the nation's lowest average price for gas at $3.07. San Diego has the highest at $4.24.

In California, the lowest average price was $4.05 in Fresno. The average statewide for a gallon of regular was $4.18.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


High gas prices hit the Central Coast

02/20/2012 06:59 PM by Nancy Chen

You might want to bring some extra cash next time you hit the pump. And as prices are steadily rising, analysts say not to expect relief any time soon.

AAA says in San Luis Obispo County, Monday's average price for a gallon of regular unleaded gas is $4.09, up 20 cents from last week, and nearly 50 cents from this time last year. Santa Barbara County's average is $4.10 per gallon. That's also up about 20 cents in the past week, and 50 cents from last February.

Gasbuddy.com lists the Arco gas station on Los Osos Valley Road as the cheapest gas in San Luis Obispo--and it's going for $3.99 a gallon for unleaded.

"It hurts, it hurts a lot," said Julie York, a Santa Margarita resident who was pumping gas in San Luis Obispo.

"We wanted to get more animals for our place because we live on 20 acres, but we can't do it because of gas," she said.

York's husband commutes every day from Santa Margarita to Goleta for business, making each trip to the gas station a painful experience.

"It's eating us alive because we have animals to feed and stuff like that and the gas has to come first because my husband drives so far," she said.

James Erwin Sedley, the general manager of the Kon Tiki Inn in Pismo Beach, says he's seen vendors adding on fuel surcharges to keep up with the rising costs but says the high gas prices also provide an opportunity to local hotels.

"A lot of people make that assessment, if this is our budget, we're going to take a trip over from the Central Valley to Pismo Beach or from San Francisco or Los Angeles because that's only one gas tank away versus take that flight," he said.

The high gas prices are in part because of Greece's budget crisis as well as tensions with Iran, according to AAA. Some refineries in the United States and Europe have also recently cut gasoline production.

Economists say there's no relief in sight yet. In fact, experts say the national average could reach a record $4.25 by late April.


National gas prices up 3.5 cents in past 2 weeks

01/22/2012 12:31 PM by Associated Press, MN

CAMARILLO, Calif. (AP) - The average U.S. price of a gallon of gasoline has jumped three-and-a-half cents over the past two weeks.

That's according to the Lundberg Survey of fuel prices, released Sunday, which puts the price of a gallon of regular at $3.39.

Midgrade costs an average of $3.54 a gallon, and premium is at $3.66.

Diesel was up about two cents, at $3.91 a gallon.

Of the cities surveyed, Salt Lake City, Utah, has the nation's lowest average price for gas at $2.94. Los Angeles has the highest at $3.71.

In California, the lowest average price was $3.59 in Fresno. The average statewide for a gallon of regular was $3.67, up about three cents.


National gas prices up 12 cents in past 3 weeks

01/08/2012 12:16 PM by Associated Press (SR)

CAMARILLO, Calif. (AP) - The average U.S. price of a gallon of gasoline has spiked 12 cents over the past three weeks.

That's according to the Lundberg Survey of fuel prices, released Sunday, which puts the price of a gallon of regular at $3.36.

Midgrade costs an average of $3.51 a gallon, and premium is at $3.62.

Diesel held steady, at $3.90 a gallon.

Of the cities surveyed, Salt Lake City, Utah, has the nation's lowest average price for gas at $2.86. Los Angeles has the highest at $3.69.

In California, the lowest average price was $3.54 in Bakersfield. The average statewide was $3.64, up about 13 cents.


National gas prices down 9 cents in past 2 weeks

12/04/2011 12:27 PM by The Associated Press (MH)

CAMARILLO, Calif. (AP) - The average U.S. price of a gallon of gasoline has dropped 9 cents over the past two weeks.

That's according to the Lundberg Survey of fuel prices, released Sunday, which puts the price of a gallon of regular at $3.29.

Midgrade costs an average of $3.46 a gallon, and premium is at $3.57.

Diesel is down a nickel, to $3.96 a gallon.

Of the cities surveyed, Albuquerque, N.M., has the nation's lowest average price for gas at $2.84. San Francisco has the highest at $3.67.

In California, the lowest average price was $3.54 in Fresno. The average statewide was $3.62, down 13 cents.


National gas prices down 12 cents in past 2 weeks

09/25/2011 12:36 PM by The Associated Press (MH)

CAMARILLO, Calif. (AP) - The average price for a gallon of gasoline in the U.S. has dropped 12 cents over the past two weeks.

That's according to the Lundberg Survey of fuel prices, released Sunday. It puts the average price of a gallon of regular at $3.54.

Midgrade costs an average of $3.70 a gallon, and premium was at $3.82.

Diesel prices fell 4 cents, to an average of $3.91 a gallon.

Of the cities surveyed, St. Louis had the nation's lowest average price for gas at $3.08. San Francisco had the highest at $3.90.


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