Oil prices are down roughly 32% today since the record high back in March, but California gas prices keep on rising. What gives?
The average price has risen 17 consecutive days and 30 of the past 31, increasing $1.176, including eight-tenths of a cent Sunday and 15.7 cents Thursday, the largest daily increase since July 11, 2015, according to figures from the AAA and the Oil Price Information Service.
The increases Sunday and Monday were the smallest since Sept. 13 when the average price rose three-tenths of a cent.“I was definitely a little surprised to see how high they went up again," said Bryson Patterson, a graduate student at the University of San Diego."I kind of thought that was over.” "I do think a lot of the talk about being kind of an opportunistic ... is pretty realistic," Patterson said."I think it's kind of B.S. that the gas prices are back up to what they were."
"But it does look a little bit suspicious," he said."The fact that when oil prices are at lows, the cost to produce gas for these refineries are lower here, but yet they are down for maintenance and that's causing the price of gas to surge. So there is some suspicion."
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