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They've already been inching up - an average gallon of regular in the L.A. area is $4.233, a jump of 3.7 cents from last week, according to the Auto Club. But this could be just the start. From press release:
"We received information today from Oil Price Information Service that West Coast spot markets, where wholesale gasoline is sold, experienced a sharp price increase in the last four days," said Auto Club spokesperson Jeffrey Spring. "California gas inventories are reportedly at their lowest level since 1992. Also, BP's Cherry Point refinery in Washington, which had a major fire in February and supplies some of California's gasoline, reportedly is having problems restarting operations."
The funny thing is that the price of oil has been trending downward. But when it comes to gas prices, regional factors can hold sway, at least in the short term. Also keep in mind that Memorial Day Weekend is only a couple of weeks away, and gas prices routinely edge higher around this time.
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Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.