Gas Prices Rise Again Overnight in California – NYTimes.com

Remember that CA’s gasoline tax is a percentage, not a fixed amount, so state coffers benefit from rising gas prices. Some might call it a “windfall”.

http://www.nytimes.com/2012/10/08/us/gas-prices-rise-again-overnight-in-california.html?pagewanted=all&pagewanted=print

Gas Prices Rise Again Overnight in California

By MICHAEL SCHWIRTZ

The average price of regular gasoline in the state jumped to about $4.65 a gallon on Sunday, 84 cents higher than the national average and by far the highest in the country, according to AAA’s Daily Fuel Gauge Report. Hawaii had the next highest average, at $4.41.

Prices have been rising for about a week and jumped by nearly 20 cents a gallon, to $4.49, overnight Friday. Prices rose to $4.61 a gallon on Saturday before climbing again on Sunday.

A power failure last week at an Exxon Mobil refinery in Torrance, Calif., was the immediate cause of the spike, though the plant had resumed normal operations by Friday. A Chevron refinery in Richmond, Calif. is still operating at partial capacity after a fire in August.

Gasoline prices in California are typically higher than in most of the country because of strict environmental regulations. Yet prices around the country remain high. Sunday’s national average was $3.81 per gallon of regular gasoline, about 42 cents more than a year ago.

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