For immediate release: November 8, 2000
Media Contact: Claudia Chandler -- 916 654-4989
California Energy Commission Update:
California Gasoline & Diesel Supplies
Sacramento -- The average retail price of regular gasoline inched down a half cent in California over the past week. For the week ending November 6, 2000, California reformulated regular gasoline sold on average for $1.79 a gallon.
The price of crude oil remained above the $31 mark this week -- $9 higher than the price this time last year. Yesterday, Alaskan crude -- the source of 30 percent of California's oil supply --Ęsold for $31.95 a barrel.
By adding in this year's increase in the cost of crude oil, the corresponding average price increase for regular in California would be about 23 cents. Last year at this time, the California retail average was $1.33 per gallon, indicating a 46-cent difference from today's price. Crude oil accounts for 23 cents of the increase; additional sales tax adds an estimated two cents; the remaining 21 cents is attributable to increased profit and cost margins for refiners, marketers and retailers.
For more information on the breakdown of the cost of a gallon of gasoline, visit the Energy Commission's Website at:
Production of CARB gasoline was off ten percent from the previous week. For the week ending November 3, 2000, production averaged 776,570 barrels a day.
Statewide diesel prices dropped slightly in California over the past week. On November 6, 2000, the average retail price of CARB diesel in the northern part of the State was $1.96 a gallon, two cents cheaper than a week ago. Truck stops in Central California reported that the average per-gallon price remained steady at $1.89, while average prices at Southern California stations dropped one cent to $1.90 a gallon.
For the week ending November 3, 2000, refineries produced an average of 195,700 barrels of Reformulated Diesel a day. Diesel inventories are 13 percent lower when compared to last year at this time.
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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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