Get ready for $5 a gallon gas.
That’s what experts drivers here in California could soon be paying.
Just last night, gas prices jumped up almost 10 cents. Over the past week, the average went up over 18 cents.
The Auto Club says that a “perfect storm” of record low inventory and refinery problems are to blame for the large spikes. In addition, refiners have been letting supply dwindle as they prepare to switch from the mandated “Summer” gas to “Winter” gas.
In the Los Angeles-Long Beach area, gas prices are around $4.35 a gallon – up almost 21 cents from last week and 51 cents higher than last year.
Inland Empire drivers are paying about $4.30 – that’s up 19 cents from last week.
Spokesman Jeffrey Spring says “we are easily on track in the next day or two to break the 2012 record for gas prices, but it is not clear how much higher it will go beyond that. A lot depends on whether the perceived supply issues are quickly addressed.”
Some mom and pop gas stations are opting to shut down their pumps rather than try to squeak by on razor thin margins.
Make sure to visit our TotalTrafficLA.com Cheap Gas Price Checker to try to save yourself some pennies as prices continue to rise.
OTHER STORIES OF INTEREST: