Business & Real Estate

Sacramento-area gas prices spike 17 cents in one week

The average retail price of gasoline in the Sacramento area surged 17 cents over the past week.
The average retail price of gasoline in the Sacramento area surged 17 cents over the past week. Randy Pench

The average retail price of gasoline in the Sacramento area surged 17 cents over the past week, according to Monday’s weekly report by national gas price tracker GasBuddy.com.

GasBuddy, which does a daily survey of 720 gas outlets in the region, said the average gas price in the area is now $2.50 a gallon.

That virtually matches the month-ago price, but it’s 90 cents lower than the same period last year.

The national average increased 12.6 cents over the past week to $2.17 a gallon – a gain of 1.7 cents since last month but $1.10 lower than last year.

Energy analysts cited a recent, sharp rise in wholesale fuel prices as a primary driver of at-the-pump cost increases. But they also pointed to rising crude oil prices and a weeklong United Steelworkers union strike, which on Feb. 1 idled nearly 4,000 workers at nine U.S. refineries, including Tesoro’s California facilities in Carson and Martinez.

Patrick DeHaan, senior petroleum analyst with GasBuddy, said the latest nationwide gas price increase was the largest since July 2013, and more price hikes are likely: “While the pace of increases will slow in the week ahead, we’re looking at continued gas price increases over the next few weeks.”

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

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