Bay Area gas prices have climbed to just under $6 a gallon, adding to pressure on households as the six-month US-Iran war continues to unsettle global energy markets.
The average price for regular petrol in the region is now close to the record levels seen during previous fuel shocks. Prices have moved sharply up and down since fighting began, in what KTVU reporter Tom Vacar described as behaving like “a pogo stick up an elevator”.
AAA data showed California’s average price for regular petrol at $5.88 a gallon on September 9, while the figure was about $5.92 in Oakland and just over $6 in San Francisco.
The wider US market has also been affected. The national average for regular petrol stood at about $4.22 a gallon on September 9, according to AAA, while diesel reached a record average of $5.85 earlier this month.
The California Energy Commission said the conflict, which began on February 28, had disrupted shipping through the Strait of Hormuz and removed significant oil and refined fuel supplies from international markets. It said refinery outages and tighter global supplies had added to the pressure even as crude prices fluctuated.
Officials said California was not expected to run out of petrol, with supplies being supported by domestic production, inventories and imports from alternative sources. However, the commission said prices were likely to remain volatile while uncertainty surrounding the conflict and shipping through the strait continued.
Drivers and businesses are expected to feel the impact more acutely as the holiday season approaches, with higher fuel costs also feeding into transport, deliveries and the price of goods.
