California gas prices are at their highest level in history this Labor Day weekend
Gasoline prices hit record levels over the Labor Day holiday in California, despite the fact that prices have been dropping during the summer.
The Los Angeles Times Thursday reported:
The average gas price per gallon in California and Los Angeles was $5.25 Thursday, 5 cents lower than the previous week, according to the Automobile Club of Southern California. The previous record for the start of the Labor Day holiday last year was $4.39 a gallon in California and $4.40 in Los Angeles.
Gasoline prices began to rise in the spring of 2020, with the largest increases starting from January 2021, exacerbated by the pandemic and the destabilizing impact of the Russian war in Ukraine on the energy market. Before prices started dropping at the start of summer, the price of regular gasoline at some California service stations exceeded $7 a gallon.
Californians who drive electric cars — prior to the state’s ban on sales of new gas-powered cars in 2035 — are being encouraged not to charge their cars in the late afternoon and early evening hours, as part of a “Flex Alert” issued by energy regulators government due to the lack of electricity in a continuous heat wave.
President Joe Biden claimed credit for lowering gas prices by releasing oil from the Strategic Petroleum Reserve, and by asking foreign countries to expand production (although many of them, notably Saudi Arabia, have declined). However, the dominant factor in the decline in prices was the increase in expectations of a global recession, which led to a decrease in the demand for oil in world markets.
Joel Pollack is Breitbart News’ traveling editor and host Breitbart News Sunday At Sirius XM Patriot on Sunday evenings from 7 p.m. to 10 p.m. ET (4 p.m. to 7 p.m. PT). He is the author of the latest e-book, Neither Free nor Fair: The 2020 US Presidential Election. His latest book, red november, tells the story of the 2020 Democratic presidential primary from a conservative perspective. He was awarded the 2018 Robert Novak Alumni Fellowship for Journalism. Follow him on Twitter at Tweet embed.