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Monday, April 12, 1999


Gasoline-Paying the Price


California
gas prices surge
past Hawaii

Regular unleaded hits $1.639
a gallon as prices jump 43 cents
during the last 3 weeks

Associated Press

Tapa

LOS ANGELES -- Prices at gasoline stations nationwide rose 14 cents a gallon -- but were up 43 cents in California -- due to seasonal demand, OPEC cuts in crude oil production and explosions at state refineries.

Those factors combined to give California the most expensive gas prices in the country surpassing Hawaii, which traditionally has the highest prices, according to analyst Trilby Lundberg.

California's unweighted average price for regular unleaded was $1.6390 -- a 43.11-cent increase from three weeks ago, according to Lundberg's survey. Explosions at two refineries -- including one at a Tosco Avon refinery in Martinez Feb. 23 that left four workers dead -- have sent prices soaring in the state.

The unweighted average price in Honolulu was $1.4490 cents, Lundberg said.

Though California refinery problems should disappear soon and the supply picture is normalizing, Lundberg saw no immediate relief.

"The big picture is that even if prices in California and the nation should peak soon, we are unlikely to see those ultra-low 1998 price levels any time soon."

Nationwide, the weighted average price for all grades and services on Friday was $1.2281 -- a 14.12-cent rise from the last survey three weeks ago.

The cheapest gas nationwide was in Atlanta, where self-serve regular unleaded was going for 95.30 cents.

Self-service prices nationwide were $1.1717 for regular, $1.2733 for mid-grade and $1.3590 for premium.

At full-serve stations, the prices were $1.5258 cents for regular, $1.6140 for mid-grade and $1.6876 for premium.

Last month, the Organization of Petroleum Exporting Countries cut daily oil output by 2.1 million barrels.



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