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Bay Area gas prices: Why are they so high? Experts explain

One of the factors driving those inflation numbers up is a rise in gas prices. We take a look at the rising costs. ....

United States , El Segundo , Contra Costa County , John Altemus , Tom Klosa , Oil Price Information Service , Bay Area ,

CNN New Day Weekend June 4, 2024 12:26:00

Crude, while plentiful, it s very, very likely very, very sweet but it doesn t have a big yield like some of those products like heating oil and jet fuel, so that s a big problem. we re not entirely sufficient for crude. we don t have a lot of heavy and medium grades of crude so we ll always be importing and exporting it. tom, i appreciate your expertise in this. thank you. thank you. two weeks after hurricane ian destroyed parts of southwest florida, many residents were left to deal with long lines and frustrations getting the emergency aid they so desperately need. we re live with the latest on recovery efforts after a quick break. my most important kitchen tool? my brain. so i choose neuriva plus. unlike some others, neuriva us is a multitasker ....

Heating Oil , Jet Fuel , Railway Section , Hurricane Ian , Tom Klosa , Southwest Florida , Emergency Aid , Recovery Efforts , Neuriva Plus , Neuriva Us , Kitchen Tool ,

CNN New Day Weekend June 4, 2024 12:21:00

But prices have slowly begun to creep up. and the opec plus announcement is expected to speed up that pace. joining me now is tom klosa, he s the ahead of global energy analysis which tracks gas prices for aaa. tom, appreciate you joining us this morning. so how much are gas prices expected to go up and when? good morning, i don t think they re going to go up that much more this year. i think what opec did lays the groundwork for another appreciable spike in the spring of 2023. and actually, if you look at some places that were overheated like california, was $6.50 per gallon for gasoline, that s going to actually come down a little bit. the problem isn t going to be gasoline, it s going to be molecules like diesel and heating oil and jet fuel. ....

Tom Klosa , Opec Plus Announcement , Gas Prices , Energy Analysis , 16 50 , Heating Oil , Jet Fuel , Bridge Isn T ,

CNN New Day Weekend June 4, 2024 12:22:00

Those are going to soar because they re coming into season and because the russian boycott may manifest itself in the next months. that s where the inflation is coming from trade, agricultural products and that s going to be pretty insidious. i m sure the people in california if they re up this early, that prices are coming down. i was just there a few days ago and i filled up a tank for nearly $7 a gallon. it s nearly untenable for some people. we ve seen gas prices go up slowly again. tom, you say it s because there are a lot of refineries shut down. why are we seeing that? well, you know, i ll take california, for example, it s kind of the petri dish for the laboratory for energy transition and weaning one s self off of fossil fuels. they re short of making enough fuel to make a supply balance there. and that s going to rear its head every few months in california, and to a certain ....

Gas Prices , Railway Section , Tom Klosa , Energy Transition , Petri Dish , Fossil Fuels , Supply Balance ,