LOS ANGELES, Ca. (May 13, 2015) - Los Angeles-area motorists should be prepared for average prices to breach $4/gal in the next day as continued refinery problems have led to supply tightness and further wholesale gasoline price spikes, leading GasBuddy to forecast that average prices of over $4/gal could hit in mere hours as stations pass along higher prices. It would be the first time since July 22, 2014 that prices averaged over $4/gal in Los Angeles.
The expected spike in gasoline prices will be centered in Los Angeles, while other Northern California markets may escape another round of price spikes as supply in Los Angeles remains much tighter than other regional markets. The situation could spur some stations to send tankers to other areas to fill up at a lower price.
Wholesale gasoline prices in Los Angeles are poised to rise this evening when terminals adjust their prices based on market changes. While the L.A. market was negative much of the day, late day trading led to a comeback and wholesale prices finished the day higher in the L.A. market, while San Francisco and Pacific Northwest markets saw minor losses. Many stations may elect to weather the storm and could wait to refill their tanks at the higher price as L.A.'s wholesale gasoline prices stand some 45c/gal higher than even San Francisco.
Motorists are urged only to buy what gasoline they immediately need to avoid further straining an already extremely tight supply chain.
If you'd like to see gas price data in real time, visit https://fuelinsights.gasbuddy.com
To see live Los Angeles data, visit https://fuelinsights.gasbuddy.com/#Home/US/CA/Los_Angeles
To see live San Francisco data, visit https://fuelinsights.gasbuddy.com/#Home/US/CA/San_Francisco
To see live California data, visit https://fuelinsights.gasbuddy.com/#Home/US/California