Fourth of July holiday week brings record travel and uncertain gas price hike
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Diverging Reports Breakdown
Fourth of July holiday week brings record travel and uncertain gas price hike
The AAA reports, this weekend, gas prices are the lowest they’ve been since 2021. Analysts say that has something to do with the current ceasefire in the Israel-Iran war. A study from the University of Pennsylvania’s Kleinman Center for Energy Policy found California drivers could pay significantly. It projected that this change would boost retail gasoline costs by 65 cents a gallon in the near term. The amount would increase by $1.50 a gallon within a decade. The AAA is also monitoring a possible increase in gas prices Tuesday. It is uncertain whether consumers will pay the additional costs at the pump. The Auto Club of Southern California.
That’s according to the Auto Club of Southern California. The AAA is also monitoring a possible increase in gas prices Tuesday.
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First, the state’s excise tax rate will increase from 59.6 cents to 61.2 cents per gallon. That happens July 1 with the penny-and-a-half added to the price at the pump.
Haley Hersley topped off the tank of her 4 X 4 Silverado truck, Sunday morning, at the Summit gas station in the Midway District.
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She and her husband and two children were headed back home to the Eastern Sierras. They were in San Diego to celebrate their son Jackson’s 6th birthday at SeaWorld. “The sharks were probably his favorite thing,” said Iriel Santana, his father.
M.G. Perez M.G. Perez
The family couldn’t resist the advertised price of regular $4.25 per gallon.
“Gas is already expensive enough, especially like where we’re from Bishop, California. It’s a rural area. They already charge higher,” she said.
Also on July 1, implementation begins of new stricter environmental regulations for the state program called the Low Carbon Fuel Standard.
In November, the California Air Resources Board voted to strengthen the program, which functions as a sort of cap-and-trade program, incentivizing oil and gas companies to cut emissions and requiring those that don’t to buy credits from the ones that do.
“Gasoline producers have to drastically reduce carbon emissions. Either that or they have to purchase emission credits which basically means they have to support financially other projects that are going to reduce emissions,” said Anlleyn Venegas, spokeswoman for the American Automobile Association San Diego
Exactly how much more is not clear. Which means it is uncertain whether consumers will pay the additional costs at the pump.
A study from the University of Pennsylvania’s Kleinman Center for Energy Policy found California drivers could pay significantly. It projected that this change would boost retail gasoline costs by 65 cents a gallon in the near term. The amount would increase by $1.50 a gallon within a decade.
M.G. Perez M.G. Perez
The AAA reports, this weekend, gas prices are the lowest they’ve been since 2021. Analysts say that has something to do with the current ceasefire in the Israel-Iran war. The ceasefire has contributed to lower prices for barrels of oil from that Middle East region.
“They (gas prices) are coming down, which is good,” said Thomas Goldsmith has he topped off his gas tank, Sunday. “But, they gotta keep coming down. You can’t just keep taxing the people,” he said.