For immediate release: October 4, 2000
Media Contact: Claudia Chandler -- 916 654-4989
California Energy Commission Update:
California Gasoline & Diesel Supplies
Sacramento -- For the third week in a row, the retail price of regular gasoline in California remained steady at $1.83 a gallon. Nationally, the average price of regular dropped three cents, to $1.52 a gallon for the week ending October 2, 2000.
For the past seven days the price of crude oil from Alaska's North Slope has fluctuated around the $30-a-barrel range, a significant drop from its record-setting high of $35.29 a barrel reached on September 20, 2000. On Tuesday, Alaskan crude -- the source of 30 percent of California's oil supply --Ęsold for $30.61.
Gasoline production averaged nearly 985,000 barrels a day for the week ending September 29, 2000. Production, up almost 2 percent from the week before, increased 3 percent from a year ago.
On October 2, 2000, the average rack, or wholesale, price of California regular fell slightly to $1.25 a gallon in the State. That price is 30 cents lower than the year's highest wholesale price of $1.55, reached on September 7, 2000.
Spot market prices continued to decline. On October 2, 2000, spot prices were $1.16 in Southern California, and $1.18 in the Bay area -- about a six-cent drop in both regions over the past week.
Record high diesel prices continued their slow descent this week, dropping less than a cent across the State.
On October 2, 2000, the average retail price of CARB diesel in Northern California was $1.93 a gallon, off 12 cents from the high established on September 5, 2000. Truck stops in Central California reported average prices of $1.87 a gallon, an 11-cent drop, while prices at Southern California stations averaged $1.93 a gallon -- a four-cent decline from this month's high.
Output of California Reformulated Diesel for the week ending September 29, 2000, was approximately 189,000 barrels a day -- a healthy production increase of 12 percent from the previous week. Diesel inventories are 4 percent greater than they were at this time last year.
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If you have questions about gasoline and diesel supplies and prices in California, please call us at (916) 654-4989. More detailed information on California's gasoline and diesel supplies and prices can be found on the California Energy Commission's Web Site at:
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Editor's Note: The California Energy Commission provides this type of information weekly to keep you apprised of the gasoline situation over the summer months.
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