Gas prices rose to a record-breaking $4.66 a gallon this past week, according to the AAA Fuel Gauge Report. Prices jumped by more than 17 cents in a 24-hour period last week. However, according to the Los Angeles Times, analysts expect price hikes to slow down.
Gov. Jerry Brown decided Sunday to allow oil refineries to begin processing “the less expensive winter blend of fuel three weeks early” to help slow the steep price increases.
Typically, the cheaper winter blend of gas is not sold until after October because the blend evaporates quicker than the summer blend and is considered to be more environmentally damaging.
Wholesale gas prices, the price of gas before state and federal taxes, were recorded at $3.30 yesterday compared to the wholesale price of $4.39 last week.
Analysts have stated that as long as there are no new problems with the oil refineries, gas prices should not increase anymore.