Know how you can save $1.50 a gallon on gas, right now? The answer is quite simple: Shop for it. (Find out how, below).
The Auto Club of Southern California today had some good news for area motorists. Not only can you save $1.50 a gallon because the difference between the most-expensive and least-expensive gas stations in the region is so great, but you'll probably also save cash even if you don't shop around.
That's because pump prices are falling again. The AAA says sellers are importing custom California-blend gas (required by law) from some of the few refineries, based in Canada and South Korea, that can make it. That means more supply is here.
Yep. After a refinery explosion in Torrance nearly one month ago sent prices soaring in recent weeks, the numbers are coming back down to earth. In fact, Jeffrey Spring of the AAA says sub-$3 gas could be on the horizon.
“The price of wholesale has gone down quite a lot,” he said. “We could see prices below $3 again.”
This is a little unusual. The first day of spring is tomorrow, and that often means a double whammy at the pump: Stations have to switch over to more-expensive summer blend by April 1, and they're doing so now. Plus, demand usually rises as road trips increase during the warmer months.
However, abundant global oil supply is continuing to push wholesale prices to near sub-$2 a gallon levels Spring said. So far, that seems to be offsetting any seasonal price increases.
It might even offset the squeeze in supply in California, where one of our 16 refineries was shut down last month as a result of a labor dispute and where another experienced an explosion (mentioned above).
The average price of gas in the L.A. area this week was $3.373 a gallon, down 11 cents from last week, the AAA says. That's still 47 cents above last month's lows, but that's 67 cents less than it was at this time last year, according to the Auto Club.
Some Southern California gas stations are still charging over $4 and even over $4.50 a gallon today, while others are already $2.99 or less. We urge motorists to shop around.