West Coast gas prices far above overall average
WSJ’s James Freeman, Vision 4 Funds Distributors VP Heather Zumarraga, Kadina Group President Gary B. Smith and Barron’s senior editor Jack Hough discuss why gas prices in California surged to a five-year high.
Its a tale of two coasts as far as U.S. gas prices are concerned.
Prices in more than half of the cities surveyed fell by several cents while prices mostly rose in cities on the West Coast.
When averaged out, the price of regular-grade gasoline has remained at $2.73 a gallon over the past two weeks, according to the latest Lundberg Survey.
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According to Trilby Lundberg, the attack on Saudi Arabia's key oil processing facility last month had no effect on gas prices.
The price at the pump is 24 cents lower than it was a year ago.
The highest average price in the nation is $4.20 a gallon in San Francisco. The lowest average is $2.17 in Baton Rouge, Louisiana.
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The average price of diesel is down a penny, to $3.06 per gallon.
The Associated Press contributed to this article.