In December, California prices averaged $4.32, while the average was $3.09 elsewhere in the US. Crude fluctuations have driven much of the gasoline price roller coaster this year, but not California’s premium. A far higher share of California’s gasoline is sold through such sophisticated contracts with major brand outlets than in other states. And a far lower share of California’s gasoline is sold through off-brand stations that buy the same quality gasoline at large commodity distribution points, called racks, at which a brand of gasoline is sold to all buyers at the same posted prices. Suggested citation: Borenstein, Severin, “What’s the Matter with California’s Gasoline Prices?”, Energy Institute Blog, UC Berkeley, January 9, 2023, https://energyathaas.wordpress.com/2023/01/09/whats-the-matter-with-californias-gasoline-prices/

Source: Los Angeles Times January 09, 2023 14:16 UTC