Fuel analysts anticipate prices going up 8 to 12 cents per gallon nationally.
An unexpected move by a group of large oil-producing countries to cut production may push the price of regular-grade gasoline in the San Diego area to about $5 a gallon.will curb output by a combined 1.1 million barrels a day
Most of the cuts will not happen until next month but the announcement had an immediate effect on oil markets Monday morning, sending futures prices up about 5 percent. By the end of the trading day, West Texas Intermediate — the benchmark price for U.S. crude — finished at $80.42 and Brent crude — the international benchmark — closed at $84.93.In addition, Russia announced Sunday it will continue its existing ramp-down of 500,000 barrels a day through the rest of 2023.
. “Of course, here in Southern California, we’re already paying well above those national averages so we could see higher prices not only through the summer but possibly into the fall as well.”and of that amount, about 40 percent came from Saudi Arabia and two other countries taking part in the upcoming cutbacks., a transportation energy consulting company in Irvine, said that doesn’t necessarily mean California consumers will take a bigger hit than drivers in other states.
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