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Actually many places with real competition, near production and very little regulation in the U.S. did have $1.00 or so gallon gas, i.e. much of the south and n
by ctime 5y ago
Actually many places with real competition, near production and very little regulation in the U.S. did have $1.00 or so gallon gas, i.e. much of the south and near energy producing areas in LA for example.
I wouldn't be surprised to find out that gas retailers in California would continue to price their gas at ~$5.00 a gallon when they don't actually have any to sell (or conversely, aren't selling any at all) because of how inelastic and regulated the supply is.
Everyone in CA that I know is ready to be done with gas. Regrettably, Californians also pay some of the highest costs for electricity (more expensive than HI[1]) so we're out of the frying pan and into the fire. Nothing more American than regulatory capture (looking at you SDG&E and CPCU)
[1] https://www.cbs8.com/article/money/amped/san-diego-has-the-highest-electricity-rates-in-the-country/509-b33c2aa1-5414-431d-a060-273059f1e0da https://www.cbs8.com/article/money/amped/san-diego-has-the-h...
edit: source for $1 gallon https://abc7news.com/gas-prices-lowest-in-a-decade-13-states-where-is-under-1-drop-amid-coronavirus-pandemic/6116861/ https://abc7news.com/gas-prices-lowest-in-a-decade-13-states...
- wolverine876 5y agoWhich regulations are raising prices? Also, I'm a little confused: SD and LA are in California, of course.
- mulmen 5y ago“San Diego is even out-passing Hawaii, which is not even on the mainland.”
- gotoeleven 5y agoGas tax is 51.1 cents/gal They require a special formula for which there aren't many refineries https://ww2.arb.ca.gov/resources/fact-sheets/gasoline-frequently-asked-questions https://ww2.arb.ca.gov/resources/fact-sheets/gasoline-freque...
- wolverine876 5y agoThanks, but tax isn't a regulation and doesn't have the impacts described in the GP.
- sremani 5y agoThe LA in the previous comment is likely Louisiana -- where many refineries are based. Also, CA has its own refineries that have additional blend restrictions (if I am not wrong). You cannot legally sell, gasoline that is refined in LA or TX and sell them in CA gas stations.
- foxyv 5y agoNaw, he means Los Angeles. Los Angeles County makes a ton of power for So. Cal.
- sremani 5y agoYou are right -- there are 5 refineries in LA county and 60% of the California capacity. The possibility of them having $1 gallon in CA did not feel real given the taxes and fees per gallon are near or exceed $1.
- throwfaraway9 5y ago>everyone in CA that I know is ready to be done with gas If you ever needed evidence that you live inside your own little comfortable echo chamber...