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|January 18, 2021|
Opening of 2021 poised for higher gasoline prices
SOUTHLAND – (INT) – Relative ‘bargains’ in gasoline prices may be over.
The pandemic fundamentally changed the landscape of California’s gasoline market in 2020 and the outlook for the New Year does not suggest a decline in pump process.
“The pandemic stay-at-home orders drove down demand. But announcements regarding the future of gasoline-powered vehicles in the state and anticipation of more stringent environmental regulations on refineries have caused one refinery to close indefinitely and others to announce they will close in the future or transition to producing low-carbon fuels. That means an even tighter gasoline market with more potential for price spikes from refinery disruptions,” Auto Club spokesman Jeffrey Spring said.
The statewide average for a gallon of 87 octane regular is $3.24.
In Riverside, the average per-gallon price is $3.18, which is six cents higher than November, but 33 cents lower than the opening of 2020.
By comparison, all local regions in California ended 2020 with the lowest prices since 2017.
Story Date: January 14, 2021