Lawmakers are expected to announce a proposal for a $400 gas rebate for California taxpayers.
The national average soared past the $4 per gallon mark earlier this month and surpassed the record high of $4.103, which was reached in 2008. Gas prices have swung upward after sanctions on Russian commodities during the ongoing Russian invasion of Ukraine.
Crude oil prices dropped down to $96 per barrel this week and the falling price could cause the national average to fall 35 to 55 cents per gallon over the next three to five weeks, according to Patrick De Haan, head of petroleum analysis for GasBuddy, on Twitter. Motorists in California pay the highest fuel prices in the country, partially due to higher taxes for environmental regulations and infrastructure, costing drivers an extra $1.19 a gallon, according to a recent report. There is also a “mystery” surcharge, called athat raises prices higher in California due to higher profit-taking from gas retailers, according to one analysis.
San Jose’s east side has some of the lowest gas prices in the region, in addition to other portions of the South Bay and East Bay, according to a map of Bay Area prices from GasBuddy. A gas station called Moe’s Stop were offering regular fuel at $5.16 a gallon Thursday at two places in San Jose. Meanwhile, one station is charging $5.25 a gallon in San Leandro while another in Oakland’s Fruitvale District was offering gas at $5.29 a gallon.
OAKLAND, CA – NOVEMBER 23: Jane Richardson, of Los Angeles, puts gas in her car at a gas station in Oakland, Calif., on Tuesday, Nov. 23, 2021.
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