Gas prices climb higher across California as experts warn this surge will be different
California drivers are paying more every day at the pump, and energy experts warn this latest surge may not be like the others.As global conflicts squeeze fuel supplies, US refineries are already running near full capacity and emergency oil reserves have been heavily tapped, leaving little room to absorb another disruption.For California motorists, who already pay the nation’s highest gas prices, that could mean even more pain ahead.In Los Angeles County, the average price for a gallon of self-serve regular gasoline rose Friday for the 10th consecutive day, climbing 2.2 cents to $5.645, according to AAA and the Oil Price Information Service.The average has jumped 24 cents over the past 10 days, including a 3.1-cent increase Thursday.Prices are now 16.8 cents higher than a week ago, 10.4 cents above a month ago and $1.165 more than they were one year ago.The spike is hitting drivers across the state.AAA’s regional office in Walnut Creek reported average prices of $5.76 per gallon in San Francisco, $5.58 in Oakland and $5.57 in San Jose.California’s statewide average climbed to $5.59 a gallon, up 17 cents from last week, giving the state the highest average gas price in the nation.The latest surge comes as the global fuel market faces mounting pressure.US refineries are running at 96% of capacity, with plants in the Midwest and Rocky Mountain regions operating at 100%, according to the US Energy Information Administration.US energy companies have also stepped up exports of petroleum products, including diesel and jet fuel, following Iran’s closure of the Strait of Hormuz, a critical shipping route that carried about one-fifth of the world’s oil supplies before the Middle East conflict began in February.“The US export increase is helping but it’s a band-aid on a big gunshot wound,” Joe DeLaura, senior energy strategist at Rabobank, told the Financial Times.“We’re trying to make up this deficit by running all out, but that means the second refinerie...