Please ensure Javascript is enabled for purposes of website accessibility

PBS and NPR Mount Last-Ditch Fight to Save Federal Funding

23 hours ago

Netanyahu Under Mounting Political Pressure After Party Quits

23 hours ago

Wall Street Opens Higher After Inflation, Bank Results

24 hours ago

Sick of Loud Ads on Netflix? A Proposed California Law Turns Down the Volume

2 days ago

Record Numbers of Americans Say Immigration Is Good for Country: Gallup Poll

2 days ago

In California Strawberry Fields, Immigration Raids Sow Fear

2 days ago

Newsom’s Office Attacks Stephen Miller, Calling Him a ‘Fascist Cuck’

2 days ago

Trump’s Spending Bill Will Likely Boost Costs for Insurers, Shrink Medicaid Coverage

2 days ago
Fresno Gas Prices Are Rising Fast. Here's What's Driving the Latest Pain at the Pump
By admin
Published 2 years ago on
August 3, 2023

Share

Getting your Trinity Audio player ready...

NEW YORK — U.S. gas prices are continuing to rise — giving drivers in Fresno and across the country another headache at the pump.

In Fresno, the average price jumped from $4.69 to $4.84 in just over a week, according to price tracker Gas Buddy. The website shows some Fresno stations charging as much as $5.29 for regular unleaded.

The national average for gas prices stood at about $3.82 a gallon on Thursday — about 29 cents higher than that seen one month ago, according to motor club AAA. While today’s prices at the pump remain far lower than they were last year, when energy costs soared worldwide in the months following Russia’s invasion of Ukraine, experts say such a jump is unusual.

The rising prices are especially interesting as “fewer people are fueling up” their cars this summer compared to years past, AAA spokesperson Andrew Gross explained in an interview this week.

In the U.S., gasoline prices are highly dependent on crude oil — which has also climbed over recent weeks. West Texas Intermediate crude, the U.S. benchmark, traded over $81 a barrel Thursday afternoon. That marks a $12 jump since July 3, according to OPIS global head of energy analysis Tom Kloza.

A few factors are causing oil prices to rise, analysts say, including impacts of this summer’s extreme heat on refineries and global supply production cuts — notably from Saudi Arabia, which on Thursday extended its unilateral reduction of 1 million barrels a day through the end of September. Here’s what you need to know.

WHY ARE GAS PRICES RISING? BLAME THE HEAT AND PRODUCTION CUTS

This summer’s record temperatures are partly to blame for the rising gas prices.

“While the heat may be keeping people home, it’s also keeps refineries from making refined product,” Gross explained, noting that refineries are typically designed to operate between 32 and 95 degrees Fahrenheit. “They don’t like temperature extremes because they’re inherently dangerous places… So they dial back the production for safety purposes, but that then constrains supply.”

According to Kloza, there are about 10 million daily barrels of U.S. refining capacity on the Gulf Coast. The heat wave has caused those refineries to operate below normal capacity — resulting in a loss of hundreds of thousands of barrels each day, he said.

Still, “the fact that some refineries are struggling has meant that the ones who are able to operate are making really nice profits,” he told The Associated Press earlier this week. Today’s U.S. domestic demand is about 9 million barrels a day, about a half a million below expectations for peak summer months, but the country is exporting a lot of gasoline, he added.

Beyond the heat, Kloza pointed to crude supply cuts from major producing countries in the OPEC+ alliance — noting both Russia and Saudi Arabia, for example have been exporting less. In July, Saudi Arabia started reducing how much oil it sends to the global economy by 1 million barrels each day — and on Thursday, in a move widely-expected by analysts, the country extended that unilateral reduction through the end of September.

The Saudi reduction comes as other OPEC+ producers have agreed to extend earlier production cuts through next year. The cuts aren’t OPEC-wide, Gross noted. As inflation eases, he suspects that better economic prospects may also be putting pressure on oil worldwide.

WHICH STATES HAVE THE HIGHEST GAS PRICES TODAY?

As always, certain parts of the U.S. are facing higher gas prices than others — due to factors ranging from routine maintenance at regional refineries to limited supplies in some states.

On Thursday, according to the AAA, California had the highest gas prices in the nation at an average of $5.03 a gallon. Washington and Oregon followed at about $4.99 and $4.64, respectively.

Mississippi had the lowest average at about $3.33 per gallon, followed by nearly $3.44 in Louisiana and $3.45 in Alabama.

WILL GAS PRICES CONTINUE TO CLIMB?

It’s hard to know what gas prices will look like in the coming weeks, experts say.

While relief from the heat can hopefully be expected as we enter the fall, both Gross and Kloza pointed to risk of hurricanes — which, of course, leads refineries to power down.

“If you could guarantee we’re not going to have tropical storm force or hurricane winds in the Gulf of Mexico, I’d say it’s going to be clear sailing for the rest of the year. But that’s a real fly in the ointment,” Kloza said, pointing to the unprecedented water temperatures the region has seen recently.

HOW CAN I SAVE GAS?

If you’re looking to save money and cut back on trips to the pump, there are a few ways you can maximize your mileage per gallon.

One important habit is staying on top of checking your tire pressure, Gross said. In addition to safety risks, low tire pressure is “not maximizing your fuel efficiency,” costing you more money down the road, he said.

AAA offers additional gas-saving tips — which include using cruise control when possible, not overfilling your tank at the pump, and removing unneeded items in your car’s trunk to cut down on excess weight.

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

So Your Doctor Is a DO. Does That Matter?

DON'T MISS

Fresno Man Found Dead After Hike Near Courtright Reservoir

DON'T MISS

Former US Army Soldier Pleads Guilty in Phone Company Hacking, Extortion Case

DON'T MISS

Fresno City Attorney Briefly Ineligible to Practice Law, Cites State Bar Error

DON'T MISS

Grass Fire East of Sanger Contained at 21 Acres, CalFire Says

DON'T MISS

Age Is Just a Number: 80-Year-Old Conquers Death Valley to Mt. Whitney Ultramarathon

DON'T MISS

What to Know About the Epstein Files, a Perfect Recipe for Conspiracy Theories

DON'T MISS

US Military to Remove 2,000 National Guard Troops From Los Angeles

DON'T MISS

Mexico Pledges Action Should US Talks Fail by August Tariff Deadline

DON'T MISS

Fresno Police Arrest Armed Man Found Asleep in Car

UP NEXT

US Ambassador Asks Israel to Investigate Death of US Citizen in West Bank

UP NEXT

US Consumer Prices Rise in June as Tariff Pass-Through Begins

UP NEXT

Netanyahu Under Mounting Political Pressure After Party Quits

UP NEXT

US Strikes Trade Deal With Indonesia, Trump Says, Without Providing Details

UP NEXT

Wall Street Opens Higher After Inflation, Bank Results

UP NEXT

Israel Strikes Syrian City, Vows to Protect Druze From Government Forces

UP NEXT

Egypt Says Israel-EU Agreement Has Not Increased Aid to Gaza

UP NEXT

Oil Falls as Trump Gives Russia 50 Days to Avoid New Sanctions

UP NEXT

Clerics Accuse West Bank Settlers of Attacking Christian Sites

UP NEXT

Trump to Send Weapons to Ukraine, Threatens Secondary Sanctions on Russia in 50 Days

Former US Army Soldier Pleads Guilty in Phone Company Hacking, Extortion Case

15 hours ago

Fresno City Attorney Briefly Ineligible to Practice Law, Cites State Bar Error

15 hours ago

Grass Fire East of Sanger Contained at 21 Acres, CalFire Says

15 hours ago

Age Is Just a Number: 80-Year-Old Conquers Death Valley to Mt. Whitney Ultramarathon

15 hours ago

What to Know About the Epstein Files, a Perfect Recipe for Conspiracy Theories

15 hours ago

US Military to Remove 2,000 National Guard Troops From Los Angeles

16 hours ago

Mexico Pledges Action Should US Talks Fail by August Tariff Deadline

16 hours ago

Fresno Police Arrest Armed Man Found Asleep in Car

16 hours ago

Trump Says Democratic Rival Schiff Should Be ‘Brought to Justice’ for Alleged Fraud

17 hours ago

Madera County Authorities Seeks Help Finding Missing Bass Lake Man

17 hours ago

Open Mic Contest Offers Fans a Chance to Perform at Outside Lands 2025

For the first time in its 17-year history, Outside Lands is inviting fans to take the stage. The 2025 edition of the iconic Golden Gate Park...

60 minutes ago

Outside Lands 2025 will debut its first-ever open mic contest, offering fans the opportunity to perform on the new Duboce Triangle stage. Pictured: Chappell Roan performing at Outside Lands 2024. (Alive Coverage/Outside Lands)
60 minutes ago

Open Mic Contest Offers Fans a Chance to Perform at Outside Lands 2025

The number of osteopathic doctors has increased dramatically. People still don’t know what they are. (Sonia Pulido/The New York Times)
14 hours ago

So Your Doctor Is a DO. Does That Matter?

14 hours ago

Fresno Man Found Dead After Hike Near Courtright Reservoir

A hooded man holds a laptop computer as cyber code is projected on him in this illustration picture taken on May 13, 2017. (Reuters File)
15 hours ago

Former US Army Soldier Pleads Guilty in Phone Company Hacking, Extortion Case

15 hours ago

Fresno City Attorney Briefly Ineligible to Practice Law, Cites State Bar Error

A grass fire east of Sanger burned 21 acres Tuesday, July 15, 2025, afternoon before being contained, CalFire said. (CalFire)
15 hours ago

Grass Fire East of Sanger Contained at 21 Acres, CalFire Says

15 hours ago

Age Is Just a Number: 80-Year-Old Conquers Death Valley to Mt. Whitney Ultramarathon

Jack Posobiec, a far-right political activist, carries a binder labeled “The Epstein Files: Phase 1” as he exits the White House in Washington, Feb. 27, 2025. Here’s what to know about the disturbing facts and unsubstantiated suspicions that make Jeffrey Epstein, a registered sex offender, a politically potent obsession. (Haiyun Jiang/The New York Times)
15 hours ago

What to Know About the Epstein Files, a Perfect Recipe for Conspiracy Theories

Help continue the work that gets you the news that matters most.

Search

Send this to a friend