Reuters: U.S.: California gasoline prices hit new high despite easier supply

Reuters: U.S. Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

California gasoline prices hit new high despite easier supply Oct 8th 2012, 16:53 Mon Oct 8, 2012 12:53pm EDT (Reuters) - Average California gasoline prices have hit yet another record high, according to AAA data on Monday, even as the worst of a wholesale price spike appeared to be coming to an end. The average California price rose by just over a penny from a day before to $4.668 per gallon for regular gasoline, up 50 cents from just a week ago and 86 cents higher than a year ago, according to the American Automobile Association website. A series of refinery mishaps constrained supply in the state, which is not linked to the national pipeline and refinery networks. But the sharp price spike led to a call for a federal investigation by a senator on Sunday, and the state is moving to winter-grade fuel early to ease shortages. Southern California bore the brunt of the supply disruptions and has seen the highest prices in the state, including $5 per gallon in some areas. U.S. Senator Dianne Feinstein, in calling for an investigation by the Federal Trade Commission, pointed out that California commuters already faced the highest gasoline prices as well as the longest commutes in the country. The U.S. national average price for regular gasoline was $3.818, according to AAA on Monday.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions