California Gas Prices Soar to Record Highs

Category: Economy / Oct 08, 2012 4:41PM EDT
Los Angeles residents were on a mission Monday (October 08) - to find the cheapest gas in the city. Average California gasoline prices hit yet another record high - topping five dollars a gallon at many stations. The average California price rose by just over a penny from a day before to $4.668 per gallon for regular gasoline, up 50 cents from just a week ago and 86 cents higher than a year ago, according to the American Automobile Association. A series of refinery mishaps constrained supply in the state, which is not linked to the national pipeline and refinery networks. The state's governor, Jerry Brown, ordered state smog regulators to allow winter-blend gasoline to be sold in California earlier than usual to help drive prices down - the gas typically isn't sold until after October 31. Despite the measure, it may be more than a week for that gas supply to reach consumers, who will likely continue to face price increases until then. The gas prices in California are the highest in the U.S., where the national average for regular gasoline was $3.818 on Monday.