Gas Prices in This State Surging to 5-Year High

California residents are paying much higher prices at the pump compared with the average U.S. resident.

As of Thursday, the average gasoline price in the state was about $4.02, according to AAA, compared with the national average of $2.83.

Those are the highest prices California has seen since 2014. Prices have risen around 68 cents per gallon over the course of a month.

What’s driving prices to multiyear highs? According to Dan McTeague, a senior petroleum analyst at GasBuddy, it’s a supply crunch resulting from refinery upsets in Los Angeles and San Francisco.

“California’s unique gasoline standard means replacements for the shortfall in production aren’t easily found and … explains why drivers there have seen gasoline prices spike nearly 68 cents a gallon in just a month,” McTeague told FOX Business. (Read more from “Gas Prices in This State Surging to 5-Year High” HERE)

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