Friday, February 24, 2012

California gas prices up 23 cents in past week

http://www.mercurynews.com/traffic/ci_20030887?nstrack=sid:2707684|met:300|cat:0|order:1

Gas prices skyrocketed an astonishing 23 cents in a week in California, to $4.14 a gallon, and are on a sharp rise across the country, setting off loud grumbling Thursday from motorists and prompting President Barack Obama to fire back at critics who blame him.

The current California price is the highest it has been at this time of year, and analysts predict $4.50- or even $5-a-gallon gas by Memorial Day. Some Bay Area stations raised prices by 15 cents a gallon between Wednesday and Thursday, and more increases are likely in the next few days.

While tensions with Iran sent crude oil costs to over $107 a barrel -- the highest since May -- refinery shutdowns on the West Coast are causing a particular problem in California, where the biggest increases have occurred.

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