New record high prices at gas pump
As gasoline prices soar to record highs throughout California, and drivers refueling in the Tahoe area pay top dollar, speculation continues over whether prices at the pump will reach $4 a gallon.
On Tuesday, the statewide average cost of regular unleaded gasoline hit $3.50 per gallon, an increase of 38 cents per gallon over the last three weeks, said Sean Comey, a spokesman for AAA of Northern California, in a written statement.
In addition, the wholesale price of a 43-gallon barrel of crude oil hit a new record high of over $100, and the average cost for consumers refueling with regular unleaded in the Lake Tahoe region is $3.67 ” a few cents higher than San Francisco and Sacramento.
“We may not have seen the worst of it yet,” Comey said. “We usually see fuel costs rise in the spring because demand increases as people tend to drive more in warmer weather and the type of fuel we use in the summer costs more to make.”