Herald-Whig

California gas prices heading toward $4-plus per gallon

By Herald-Whig
Posted: Apr. 14, 2019 12:01 am

Don't look for gasoline prices to begin dropping anytime in the immediate future.

And be grateful you are not living on the West Coast.

"California will soon be home to something not seen in nearly five years: a statewide average of over $4 per gallon, with some of the largest cities there swelling to averages as high as $4.15 per gallon before any relief arrives," reports Patrick DeHaan, head of petroleum analysis for GasBuddy.com. "It really is going to be ugly ... (on) the West Coast, and any further issues could lead to more spikes."

DeHaan writes that the rest of the nation should also expect rises, although not to the level of California, where unexpected refinery outages also have pushed the price at the pump skyward.

"The national average gas price has now risen for two months straight, tacking on a total of 50 cents per gallon in the last 90 days, which will cost Americans nearly $200 million more at the pump today than back in early January," DeHaan said.

It could be worse

Sure, we're paying more at the pump than a few months ago, but consider yourself lucky for not living in one of these countries with these per-gallon prices:

Norway, $6.89.

Italy, $6.60.

Greece, $6.51.

Netherlands, $6.48.

Denmark, $6.45.

Finland, $6.15.

Sweden, $6.12

Portugal, $6.11.

France, $6.09.

Germany, $5.95.

Ireland, $5.85

England, $5.83.

Prices were supplied by Bloomberg.

Wallet impact

Here's what a gallon of gasoline costs, in terms of the percentage of a day's wages:

United States, 1.52%.

Canada, 2.83%.

Ireland, 2.94%.

Norway, 3.26%.

Italy, 7.25%.

Netherlands, 4.63%.

France, 5.36%.

Germany, 4.62%.

England, 5.29%.

Russia, 9.19%.

Portugal, 9.95%.

Greece, 12.14%.

Mexico, 15.07%.

China, 15.65%.

Turkey, 18.25%.

Brazil, 18.28%.

Nigeria, 30.59%.

India, 70.05%.

Figures supplied by Bloomberg.

They said it

SBlt U.S. News and World Report: "In a bid to fight air pollution, London has introduced one of the world's toughest vehicle emissions standards, placing a tax on older, more polluting cars that drive into the center of the British capital. The drivers of diesel cars more than 4 years old and of gasoline-powered engines more than 13 years old must pay a $16.30 fee day or night when entering central London. That's on top of London's congestion charge, which is $15 between 7 a.m. and 6 p.m. on weekdays. Non-compliant trucks and buses face a $130 daily fee."

º CNBC: "Overall, the favorite apparel brand among teens remains Nike, followed by American Eagle, Adidas, Forever 21, Hollister, PacSun, Urban Outfitters, Lululemon, Victoria's Secret and H&M."

º Kevin Hassett, White House Council of Economic Advisers chairman: "I got a bunch of models that give you recession odds, and they're all at about zero right now."

The top five

The highest-paid Major League Baseball players this season:

1. Max Scherzer, Washington Nationals pitcher, $37.4 million.

2. Mike Trout, Los Angeles Angels outfielder, 34.1 million.

3. Zack Greinke, Arizona Diamondbacks pitcher, $32.4 million.

4.-tie Clayton Kershaw, Los Angeles Dodgers pitcher, $31 million.

4.-tie David Price, Boston Red Sox pitcher, $31 million.

Words of wisdom

SBlt Bronze medal: "I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life." -- Warren Buffett.

º Silver medal: "And while the law of competition may be sometimes hard for the individual, it is best for the race because it ensures the survival of the fittest in every department." -- Andrew Carnegie.

º Gold medal: "Sometimes when you innovate, you make mistakes. It is best to admit them quickly and get on with improving your other innovations." -- Steve Jobs.