Posted: Oct 5, 2012 5:56 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 This material may not be published, broadcast, rewritten or redistributed.)
PLEASE HELP US MODERATE COMMENTS
Offensive or inappropriate comments are subject to removal. To report a comment, please e-mail us at email@example.com, and include the name of the story and information on the comment.
Thank you! KSBY.com
Get deals up to 80% off here!
Find the lowest gas prices in your area
Submit your photos to KSBY
Check out our calendar of events
Watch Daybreak Web Videos in full
Save with Hot Deals across our counties!
Events across the Central Coast
Follow The CW5 on Facebook.
The KSBY online public file.
What do you think? Leave us your feedback.
KSBY is your official CA Lottery station for San Luis Obispo and Santa Barbara Counties