LOS ANGELES (July 14, 2015) - Motorists in Southern California are outraged and angry as GasBuddy data shows gasoline prices have never risen as quickly or as much as the latest spike at the pump. Average prices in the region have spiked 67 cents per gallon in the last week, and could rise another 10-25 cents before increases wind down.
Gasoline prices have added yet another 15 cents since midnight, bringing Southern California's current gas price average to $4.22 per gallon, 10 cents higher than a year ago. When looking at a chart of the rising gas prices, it appears similar to an outline of Mount Whitney, California's highest peak.
The current spike dwarfs the state's previous record weekly spike of 52.7 cents that occurred on October 7, 2012, after Chevron's refinery in Richmond caught fire. That spike led to fuel waivers being issued by California Governor Jerry Brown, who GasBuddy's users are actively petitioning to issue fuel waivers for the now record price spike.(www.GasBuddy.com/Petition)
"There's an extraordinary level of frustration among consumers, especially on social media where they ask some very valid questions the most frequent one being 'How long will this last?' and 'Why isn't anything being done?'," said Patrick DeHaan, senior petroleum analyst with GasBuddy.
"We believe the worst of it is over and that the pace of price acceleration will diminish and flatten out within the next week to two weeks," DeHaan added.
Late last week GasBuddy CEO Jason Toews sent a letter to Governor Brown asking him to issue a waiver of California CARBOB fuel requirements to help strengthen supply and reduce the price escalation. GasBuddy also launched a petition inviting all concerned Californians to sign it and be heard.(www.GasBuddy.com/Petition)
To date, there's been no response by the governor or his staff.