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|July 4, 2020|
Are falling gasoline prices running on fumes?
SOUTHLAND - (INT) – The decline in gasoline prices over the past several weeks may be over, but the Iran situation may not be entirely to blame.
Pump prices are inching upward to a statewide average of $3.54 for a gallon of 87 octane regular. That compares to $3.51 in Riverside and $3.58 in San Bernardino. Those prices are still 13-cents lower than last month, but 30 cents more than a year ago.
The Automobile Club of Southern California reasons that an unplanned flaring at the Marathon refinery in Carson and subsequent refinery purchases of fuel in the spot market caused the reversal in gasoline prices.
“Currently, the incidents between the U.S. and Iran have not affected prices in this region, even though much of the crude oil purchased by California refineries comes from the Middle East,” the Auto Club said.
Story Date: January 15, 2020