"Unequivocally Good?" - California Gas Prices Top $3, Highest In 2 Years

Tyler Durden's picture

If the plunge in gas prices was "unequivocally good" for Americans' pocketbooks, then we wonder what the PhDs will make of the fact that California gas prices just broke above $3 for the first time since 2015 - soaring at 28% YoY (the fastest since Q1 2011, which sparked a plunge in economic growth).

California gasoline prices at 20 month highs...

 

There's just one problem with the "unequivocal" arguments - the last time gas prices soared at this pace, GDP growth in America plunged...

 

But then again we are sure - because we don't have a PhD - that we simply don't understand the dynamics.

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whatamaroon's picture

Good thing all the rich hollywood celebrities have electric cars so it wont affect them.

techies-r-us's picture

The rest will have to sell their cars to buy some gas.

BandGap's picture

Bilk as much $$$ as you can before the SHTF.

Dr. Engali's picture

Pfffft, transitory.

ajk24455's picture

I thought there was a record supply of gasoline.  If that's true, then exactly why are prices going up so quickly?  

FreeShitter's picture

Ask Rex....shit went up when got on board.

XqWretch's picture

Up? Down? It's all good in the stokk marketz. Just Buy

Angry White Guy's picture

Well, why the fuk not?  Everything else it takes to live is sky high, why not be perfect in that pursuit?

just the tip's picture

it's california.  charge them $10 per gallon.  it they can support $15 per hour, let 'em pay $10 per gallon.  and when they secede, they can pay an import tax as well.

Bam_Man's picture

But, but...didn't the Fed and their (((tribesmen))) in the financial "news" media tell us that inflation is good?

Yes, MOAR inflation - bring it on!!!

Jäger's picture

Driving? I thought high-speed rail lines reached to every corner of the state

aliens is here's picture

Good it's not high enough the price needs to get about $20 a gallon. They love paying high prices because they are trendy fks.

Hongcha's picture

The state of California starts to really crack when gas prices get to around $4 in San Francisco and LA (Sodom & Gomorrah).

adr's picture

I saw $2.45 for regular around me this past weekend. On the highway rest stop it was $2.69.

Gotta love $100 oil gas prices with oil just above $54.

What happened to the $.20 per gallon on $10 increases in oil? We left that far behind. $100 oil used to mean prices around $2.80 in cheaper locales and $3.25 in Shitfornia. 

Anything under $70 should put gas below $2. WE GOT FUCKED IN 2016. 

Refining margins are what 600% above normal? Who gives a shit if you lose a couple bucks on a barrel when you have record margins on refined product that more than makes up for it. 

Houses Depreciate's picture

It's no wonder Californias economy is a disaster.

Sudden Debt's picture

gas prices here in europe are skyrocketing while oil is still pretty low. it doesn't make sence unless the oil cartel is jacking up enduser prices despite raw oil being so low.

Or they're creating inflation through higher taxes or they're trying to suck up liquidity through those taxes.

3 options and they're all criminal facts created by criminals who just grabbed power.

Whatever it is, we're just the pawns and we're being played...

Team_Huli's picture

With all the added taxes, gas price per gallon in California will never drop much below its current levels.

Thanks democrats!  Assholes...

Sudden Debt's picture

I had a 1000 euro cartax last month with a letter that said that these taxes help the govenrment do something about global warming... no kidding...

no...

at the same time, they're cutting forests to create residential area's....

all the rest like that "green energy" crap... are all private investments that get so many subsidies that the people who own it get their money back in 3 years while asking way to much for their electricity....

The cost per kilometer for my car is now at 1.78 euro's. I couldn't believe it when I saw the estimate... a nice free tool from the government...

just add a translation tool to this site from dutch to english....

http://voertuigkosten.be/auto/bereken-de-totale-kost-van-je-auto-per-jaa...

 

MuffDiver69's picture

Umm...refineries switching blends maybe....it always spikes this time of year on East coast...not sure about Mexico north

Sudden Debt's picture

A car went up into flames because there was to much ethanol in the fuel in my city.

Even with oil so cheap they need to dilute it with that crap.

 

redc1c4's picture

it's always $3/gallon in my part of #Failifornia...

sometimes north of $4

Ben A Drill's picture

Can't beat Costco Wholesale gas prices. Top tier gas as well.

deerhunter's picture

Check out beef prices at grocery stores in relation to drop in live cattle prices. The KY people should be building manufacturing plants in all 50 states with the ass reaming the US consumer is taking both in taxation and retail price gouging . Before anyone goes all ballistic with the down arrows I know the grocery business is profitable on slim margins often 1.1 - 1.5 cents on a dollar turned. But still, lets dial it down a bit on the beef prices .

bankbob's picture

Just wait.  Bird Flu has shown up in Kentucky.  Soon millions of Chickens will be killed and prices for Chicken will skyrocket.

C9H9N's picture

I drive a 12y.o Tdi I bought new. I haven't had a car payment in 7 years, I took care of the car and I get 38 mpg around town. There's no sweeter sound than the cool kids whining about filling the tanks on their hogmobiles. Yea- fuck you too buddy ( in advance).

Sledge-hammer's picture

Thank God I live in Texas.

bankbob's picture

California is the odd man out.  They are the only state that continues to import large amounts of Middle Eastern Crude.

If there is a supply disruption in the Middle East (i.e. Iran disrupts Straits of Hormuz) International Oil prices will jump.  But you will see a two tiered pricing structure for US Oil and Everyone Else - because we will all still have plenty EXCEPT for California.  And, it would take 4 years to build a pipeline across the Rockies (if environmentalists don't stall it).  And, there are not enough US Flagged tankers to transport oil from the Gulf Coast to California and by law they MUST be American flagged if they go from one US Port to another US Port.

 

California is screwed.  The rest of the Continental US could see gas at $3 a gallon while California pays $8 a gallon.