As predicted by energy analysts, gasoline prices throughout California spiked overnight on the heels of a federal report showing declining fuel inventory in the Golden State.
The average retail price of gas in Sacramento on Friday morning was $3.27 a gallon, up 4 cents from Thursday, according to national gas price tracker GasBuddy.com. In Los Angeles, motorists awoke to $3.68 a gallon, up 13 cents overnight. Statewide, GasBuddy said the average was $3.51, up from $3.43 on Thursday.
The daily AAA Daily Fuel Gauge Report, based on the average price of unleaded regular, showed a similar increase.
Patrick DeHaan, senior petroleum analyst for GasBuddy, warned that prices in Northern California could increase up to 20 cents or more a gallon over a week’s time. In Southern California, GasBuddy said at-the-pump costs could soar as much as 50 cents a gallon higher over the next week. Gasoline inventory declines of more than 1 million barrels helped cause the spike.
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On Friday afternoon, GasBuddy released a copy of a letter its CEO, Jason Toews, sent to Gov. Jerry Brown, seeking a temporary waiver of California-specific gas regulations. GasBuddy reasoned that the availability of standard gas blends used outside the state would help stem at-the-pump price spikes in California over the short term. GasBuddy invited the public to sign a petition at gasbuddy.com/petition.