Independent Fuel Pricing Analyst

Great news on gasoline prices! We are seeing the wholesale gasoline rack prices go down today. But remember the old saying about the way they will go down drifting like a feather.

Gas prices surge again to record high but the driver is refineries, not oil prices High oil prices are usually blamed for record gas prices, but there's also a refinery shortage. More oil's meaningless if we can't convert it to gas.

Sorry, But for You, Oil Trades at $250 a Barrel The culprit is the refinery margin and the consequences are huge for global inflation.

Regular gasoline prices, by week and PADD
(Self service cash price in dollars per gallon, including taxes)
Date 02/21/22 02/28/22 03/07/22
U.S. 3.530 3.608 4.102
PADD 1 - East Coast 3.503 3.563 4.098
PADD 1a - New England 3.539 3.597 4.187
PADD 1b - Central Atlantic 3.667 3.712 4.250
PADD 1c - Lower Atlantic 3.391 3.462 3.982
PADD 2 - Midwest 3.352 3.466 3.916
PADD 3 - Gulf Coast 3.237 3.307 3.820
PADD 4 - Rocky Mountain 3.344 3.372 3.825
PADD 5 - West Coast 4.233 4.311 4.777
PADD 5b - West Coast less CA 3.848 3.902 4.325
California 4.570 4.671 5.18

02-03-22
Gas Pump Prices in LA-Long Beach Area Revisit Record Highs: AAA

Self-serve gasoline prices in the Los Angeles-Long Beach region this week hit the region's all-time record of $4.72/gal, previously set on Nov. 27, according to the Auto Club's Weekend Gas Watch.

The California average for a gallon of unleaded regular is $4.66/gal, compared to the national average of $3.41/gal.

Orange County broke its all-time highest price record this past week after its average rose to $4.70/gal.

Drivers in San Diego are paying $4.66/gal, 4cts/gal higher than week-ago levels and 3cts/gal above prices this time last month.

Central Coast prices averaged $4.64/gal, 6cts/gal below the all-time record in that region.

"Refineries began shipping out the more expensive 'summer blend' of gasoline to Southern California gas pipelines on Monday, while oil prices have climbed by more than 10 dollars a barrel in the past month due to world tensions and OPEC
concerns," said Auto Club spokesman Doug Shupe. "If the upward pressure for gas prices continues, we could see new record prices in all Southern California areas in the next couple of weeks."

OPIS began assessing February any-timing spot market L.A. CARBOB 5.99-lb. RVP this week. Implied prices Thursday afternoon are around 25cts/gal above week-ago levels due to the shift to summer-grade RVP specifications.

San Francisco CARBOB is expected to make the seasonal switch to summer blend gasoline this month.