For immediate release: October 25, 2000
Media Contact: Claudia Chandler -- 916 654-4989
California Energy Commission Update:
California Gasoline & Diesel Supplies
Sacramento - The average price of regular gasoline in California dropped a penny this week, even as the national average pump price increased by one cent . As a result, the difference between our gas prices and those in the rest of the country narrowed to 25 cents.
For the week ending October 23, 2000, California reformulated regular gasoline sold on average for $1.80 a gallon. The nationwide average pump price was $1.55.
Crude oil prices remain high. Yesterday, Alaskan crude - the source of 30 percent of California's oil supply - sold for $32.77 a barrel.
The statewide average rack - or wholesale - price was the same on October 23, 2000, as it was the Monday before - $1.25. Spot prices, however, were higher, indicating a tighter supply of gasoline. Southern California spot prices were up 13 cents to $1.24 a gallon over the past week; Bay Area spot prices increased from $1.10 to $1.19.
Gasoline production averaged 946,000 barrels a day for the week ending October 20, 2000. Production was down nearly one percent from the week before.
Statewide diesel prices remained relatively steady over the past week. On October 23, 2000, the average retail price of CARB diesel in Northern California was $2.00 a gallon. Truck stops in Central California reported average prices of $1.90 a gallon, while prices at Southern California stations averaged $1.91 a gallon.
Output of California Reformulated Diesel for the week ending October 20, 2000, was approximately 178,000 barrels a day- up nearly two percent from the week before, and 13 percent better than production at this time last year. Diesel inventories, however, are 25 percent less than they were at this time in 1999.
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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.On our Web Site, you can sign onto a listserver to receive this and other press releases automatically by e-mail.
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