KHTS Radio Santa Clarita Radio – Santa Clarita News
Summer driving this year could be the most expensive it’s been in recent years due to oil exports from the United States having quadrupled since 2015 and foreign barrel prices reaching their highest price since 2014.
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Prices at the pump are likely to be 14 percent higher than last summer — costing an average of $2.74 per gallon, the US government officials estimated last week.
“The price of oil has climbed because of efforts by OPEC and Russia. Brent crude, the global benchmark, surged 3.5% on Tuesday to $71.04 a barrel, the highest since late 2014,” said a CNN Money report. “That’s already above the EIA forecast of $63 for this summer, suggesting gas prices could go even higher. Brent crude averaged just $51 last summer.”
Although gas is well below the $4 a gallon prices of 2008, it has risen because of recovery in the oil markets. The average gallon of gasoline fetched $2.66 last week, according to AAA. That’s up from national average of $2.39 for last year, just as summer driving season was beginning, said the CNN report.
However, drivers in California, Oregon, Nevada, Washington State, Hawaii and Alaska already pay more than $3 per gallon, according to AAA. California’s average gas price has jumped to $3.52, compared with $2.99 a year ago.
Related: Gas Prices In Santa Clarita, SoCal Continue To Rise
The price hike in large part is due to the supply of foreign oil being down, largely because of OPEC’s efforts to boost prices by curbing production, reports CNN.
“Saudi Arabia-led OPEC and Russia reached an agreement in late 2016 to pump less oil,” said the CNN report. “OPEC and its allies agreed last November to extend the cuts through the end of 2018.”
Additionally, the United States is exporting oil at a record clip, sending more than four times as much oil overseas than it was in 2015, according to CNN.
All these factors have contributed to what analysts are calling an expensive summer travel year.
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Gas prices in California are ridiculous and just one more reason to leave the State.
Amen, brother, AMEN!
What? No mention of the ridiculously high gas taxes we pay here? Highest gas tax in the nation doesn’t even get an honorable mention? Nice reporting… no wonder people are blaming Trump.
Totally agree! They keep piling on the taxes on the people. Getting out of here when I can. No respect for our own laws when it comes to illegal immigration, but they sure make are careful that we the people obey the laws when it comes to taxes (which I’m all for paying taxes)!
You mean all that talk about energy independence and making America great again was just that, talk?
I am shocked. Shocked I tell you. Look at who is ‘running’ things and all his billionaire buddies. Maybe not so shocked at all.
You be better off looking at the bozo governor running this stat! Him and his lefty constituents are destroying the beautiful state of California.
And may I suggest you take a history class, Denny. Gas prices and the (high) taxes tacked on to each gallon, are controlled by the State. College of the Canyons has history classes. Sign up.
Hopefully COC offers reading classes too.
I referenced energy independence and making America great.
And you think ‘energy independence’ is instantaneous? No planning, no infrastructure, no game plan, just ‘poof!, we are energy independent within a year”? Once again, these additional taxes for gasoline are not controlled on the Federal level. Even if they were, this State would override them. Trump is hard at work nationally and Brown is going to do what he wants which means pushing for money out of legit hard working people’s pockets, and right into the deep pockets he owns, as well as others who are not paying into the system their fair share.
Energy independence is a slogan. Did you notice the article also said we are exporting four times more oil than in 2015?
How does that help the nation’s energy?
The oil companies love it though, so yippee for them, I guess.
Denny,
Do you even know how many taxes have been added onto the price of our gasoline in California? Did you know that Trump has no control over that? Wake up and face the facts. Liberalism/Socialism does not work and California is proving it again. Funny how we expect people to follow the law on taxes but not on legal immigration.
Thank you Jimmy. Your second line is exactly my point. Trump has no more control over gas prices than he has the ability to tell the truth- about anything. ‘Energy independence’ is merely a slogan. Nothing more; and you bought it, didn’t you.
Yes, because we have a lunatic for governor and stupid people that keep voting for the jerks. Just think, now they are repaving the L.A. streets white to combat the global warming scam. Only costing $40 thousand a mile. California used to be the best place to live until the Democrats took over.
If all costs (wars in Mid East, climate disruption, lung disease, toxic waste, etc.) were included, the stuff would cost $100 a gallon.
Jerry wants the fast train, he is already billion over budget, why not add tax to gas, and raise your dmv fees. He has no clue how much damage he has done because he is a self center bum(keeping it clean)
he is a communist pig trying to control humans, He works for us, we don’t work for him, anybody thinks he is good for this state you’re just as crazy
Because you are paying for the over budget fast train, so state governor raised the price of gas and dmv fees as people go on vacation, travel in cars and RV’s and spend but when he raises gas tax people tend to find alternative ways to work like metro link etc. next time you pass Santa Clarita metro link parking lot see the full lot.