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Tags: chevron | gas station | california | oil

Los Angeles Chevron Now Charges $8-a-Gallon Gas

LA gas prices
Gasoline prices over $8 per gallon on a pump at a Chevron Station in Los Angeles. (Kirby Lee via AP)

By    |   Wednesday, 01 June 2022 01:51 PM EDT

A Chevron gas station in downtown Los Angeles is charging upward of $8 a gallon for regular gas. The average price in Los Angeles County rose to a record $6.172 on Tuesday.

Many people in the area say the station in Alameda, Los Angeles, is price-gouging, reported Fox 11 local news.

The majority of Chevron's branded stations in California are independently owned and can set their own prices.

For their part, officials at Chevron said there are multiple factors that affect gasoline prices, including some that are specific to California.

"In addition to the price of oil, other factors include the competitive conditions in the marketplace; the higher cost to produce gasoline to the specifications required by the California Air Resources Board; costs associated with fuel distribution; local, state, and federal taxes; California carbon-compliance costs; recent inflationary pressures; and fixed costs of doing business that are often higher in California relative to other states [e.g., the cost of commercial real estate]," Chevron said.

"Chevron does not tolerate unlawful pricing practices at any of its branded stations," Chevron stated.

The California Attorney General's office maintains they are monitoring gas prices and in March sent a letter to gas company CEOs "warning them against illegal market manipulation," Fox 11 reported.

The AG's office also said the state's price-gouging law is not triggered unless there is a federal, state, or local declaration of emergency.

California Democrat Gov. Gavin Newsom proposed a plan in March that would provide a $400 rebate in the form of a debit card per registered vehicle owner, and up to $800 for drivers with more than one vehicle.

In the state capitol, Sacramento, legislators are fighting over how to return tax overpayments to taxpayers, who want a halt to the gasoline tax until prices stabilize.

Over Memorial Day weekend, the average price of a gallon of self-serve regular gasoline in Los Angeles County increased 2.8 cents to $6.126. Meanwhile, the Orange County, Calif., average price rose 3.4 cents to a record $6.101, Fox 11 noted.

Nationwide, the average for a gallon of gas was $4.67 on Wednesday, according to AAA, nearly 50 cents a gallon more than just a month ago and $1.62 higher than this time last year.

Seven U.S. states now average $5 or higher, with New York and Arizona quickly closing in on that benchmark, CNET reported. According to a report by JPMorgan, the nationwide average could surpass $6.20 a gallon by August.

The price of gas is inextricably linked to the cost of crude oil, from which it's refined. Every $10 increase in the cost of a barrel of crude adds almost a quarter to the price of a gallon at the pump, CNET noted.

President Joe Biden imposed a ban on the import of Russian oil. Oil is traded on a global market, and any ripple affects prices all over the world.

© 2022 Newsmax. All rights reserved.


Newsfront
A Chevron gas station in downtown Los Angeles is charging upward of $8 a gallon for regular gas. The average price in Los Angeles County rose to a record $6.172 on Tuesday.
chevron, gas station, california, oil
479
2022-51-01
Wednesday, 01 June 2022 01:51 PM
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