California gasoline is more than double the price in Texas, what do you pay? – Mish Talk
According to the AAA, the National Average Gas Price on October 1, 2022 is $3.80.
California leads the nation in price at $6.358 per gallon. That’s more than double the price paid in Texas, Mississippi and Louisiana. That’s almost double the price paid in eight other states.
Oregon has the second highest average price at $5.41 per gallon. That’s about 95 cents less than what California pays.
Mono County in California has the dubious distinction of highest county in the highest state at $6,937 per gallon.
Gavin Newsom’s Gas Price Bounty
Please consider Gavin Newsom’s Gas Price Bounty
Cash-strapped Americans have been relieved by falling gas prices in recent weeks, but not Californians. The average gas price in the Golden State this week jumped to $6.29 a gallon, $2.50 above the national average, and the reasons are worth distilling as Governor Gavin Newsom wants to export state energy policies at the national level.
Taxes add about 66 cents to the price of a gallon, about twice as much on average as other states. California’s cap-and-trade program and low-carbon fuel standard add about an additional 46 cents per gallon.
These climate regulations force refineries to close or convert to the production of more profitable biofuels thanks to the large government subsidies. California lost 12% of its refining capacity between 2017 and 2021 and is expected to lose another 8% by the end of next year. Yet refineries outside the state cannot produce its supposedly greener fuel blend.
So when California refineries run into trouble, gasoline supplies tighten and prices skyrocket.
“If you’re a (refiner) on the Gulf Coast, your gross profit on gasoline is about $6.60 (per barrel of oil). If you’re in LA, it’s about $101,” Tom Kloza of the Oil Price Information Service told Mercury News.
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Expect California Governor Gavin Newsom to run for president in 2024.
If you want to pay more for everything, this is the man for you.
This post is from MishTalk.Com
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