Business & Real Estate

Sacramento-area gas prices rise sharply for second straight week

A customer pays for gas at an Arden Way station in 2010. GasBuddy.com said the average retail price of gas in California on Friday was up 2 cents from New Year’s Day.
A customer pays for gas at an Arden Way station in 2010. GasBuddy.com said the average retail price of gas in California on Friday was up 2 cents from New Year’s Day. Sacramento Bee file

Sacramento-area gasoline prices jumped significantly for a second straight week.

The region’s average retail price of gas spiked 27.3 cents over the past week to an average $3.52 a gallon, according to GasBuddy.com, which does a daily survey of more than 700 gasoline outlets locally. The average price increased 25.9 cents the previous week.

The current price is 53 cents higher than it was one month ago but nearly 61 cents lower than the average at this time last year.

Allison Mac, a Los Angeles-based petroleum analyst for GasBuddy, said local motorists were still paying the price for recent, brief shutdowns of the Chevron refinery in Richmond and the Tesoro refinery in Martinez. That helped set off a wholesale price spike and accompanying concerns about adequate gas supplies for California.

The good news, Mac said Monday, is that upward pressure on prices “is tapering off,” with the average price of gas in the Sacramento area rising less than a penny between Sunday and Monday.

The national average retail price of gas on Monday was $2.62 a gallon, up 8.5 cents from last week and the highest average in nearly five months. GasBuddy said rising crude oil prices are helping push the national average higher.

Call The Bee’s Mark Glover, (916) 321-1184.

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