We’re a month into the summer driving season, and there’s something unusual afoot: gas prices should be rising, but they’re dropping. Over the last week, gas prices in California have dropped an average of twelve cents a gallon, and some analysts predict they’ll plunge further by the time the season ends – perhaps hitting $3.25 a gallon. In fact, wholesale prices for gas on the West Coast are now among the lowest in the nation, even in California, which is known for its isolation from the rest of the country’s fuel sources and its limited refining capacity.
Join Patt today to find out why and if its enough to make a difference.
Tom Kloza, editor and publisher, as well as chief oil analyst for the Oil Price Information Service