California Gas Prices Continue To Drop, Albeit A Bit Slowly For Strapped Drivers

California gas prices are generally among or at the highest in the nation, but in recent weeks, per-gallon gas prices approaching $4.70 a gallon have stunned California residents who are horrified by the huge spike.

As we reported earlier this month, California gas prices were impacted by what we described as a “perfect storm” of factors, including events that disrupted the gas supply:

“A fire closed Chevron Corporation’s refinery in Richmond, California and a Chevron pipeline carrying crude oil from the Central Valley area to refineries to conduct in the San Francisco Bay area was also closed in mid-September… Most recently, Phillips 66 closed two plants so that they could conduct planned maintenance. A power outage also hit Exxon Mobil Corp’s refinery in Torrance on Monday, causing operations to be disrupted for days.”

In those days, California gas prices even outstripped Hawaii as the priciest in the nation, prompting many gas customers to even think gas price signs were mistaken due to the unusually high numbers seen at the pumps.

While California gas prices in early October hovered around $4.65, the national average was (still high) but far less, at $3.81 a gallon.

If you’re in California and gas prices have caused a degree of sticker shock, though, take heart — the trend is, experts say, likely to abate instead of intensify.

gas prices august 2012

Industry expert Tom Kloza explained that consumers are indeed concerned about California gas prices, but that they’re not going to get any higher in his opinion:

“I think it’s pretty safe to say that… you are not going to spend any time at these numbers… It is my belief that California will see a $4 average again before it sees a $5 average.”

Have you been hit right in the pocketbook by California gas prices in October?