As Russian soldiers launched an invasion on Ukraine’s border, Southern California established new gas price records on Thursday.
According to the Automobile Club of Southern California. The average price of normal gasoline in California has risen to $4.73, a new high for the state and a five-cent increase over last week’s pricing.
That’s also more expensive than the national average, which was $3.54 on Thursday.
“The escalation of hostilities into all-out conflict has driven Brent Crude prices beyond $100 a barrel, and if that trend continues. We might see gas prices rise even faster,” Auto Club spokesperson Doug Shupe said in a statement issued Thursday morning.
The average price of self-serve normal gasoline in the Los Angeles-Long Beach area was $4.82 per gallon, up 15 cents from last month. The total is also a new high.
San Diego, with an average per-gallon price of $4.78, the Central Coast at $4.74. Riverside at $4.73, all established new marks on Thursday.
According to Shupe, gasoline supplies on the West Coast are at their lowest levels since 2022, which might contribute to price pressure.
The threat of an invasion had pushed petroleum prices soaring even before Russia. One of the world’s biggest gas suppliers invaded Ukraine.
Prices have been growing for a long time due to suppliers’ inability to keep up with escalating demand.
Oil prices momentarily rose above $100 per barrel, reaching their highest levels since 2014. But then fell when President Joe Biden stated the measures were designed to avoid disrupting the oil and gas markets. According to the Associated Press.
“Our sanctions package is explicitly designed to allow energy payments to continue. Biden said Thursday in his State of the Union speech.
The president stated that oil and gas corporations in the United States should not take advantage of the situation to raise prices.
Despite the fact that California does not import any oil from Russia. The Los Angeles Times reports that the loss of a major supplier would reduce world supply, which might affect pricing in the state.
Californians may save money on petrol by checking their tires, avoiding “jackrabbit” starts and strong accelerations. Slowing down and driving at the speed limit, utilizing cruise control on highways. Reducing the usage of air conditioning, according to the Automobile Club.