California's price spike since Jan. 1 "does seem to be attributed almost entirely to refining margins," Bushnell said.Please.
On Jan. 1, the refinery margin was 59 cents per gallon of gas, according to the state Energy Commission. On Monday, the most recent measurement, the margin was $1.12 a gallon.
The refinery margin is calculated by subtracting the market price for Alaska North Slope crude oil from the wholesale price of gas. The result includes the cost of operating the refinery as well as the profits for the refining company.
The last time the refinery margin exceeded $1 a gallon was in May - when pump prices peaked and the margin hit $1.08. The margin then fell steadily to about 50 cents a gallon by year's end.
I'm a very lucky person with every allergy known to man but still happy to be enjoying a wonderful life living in the best place in the world!