California's fuel crisis hits terrifying new high — here's how it'll hurt you [Yahoo! Finance]
INFORMA PLC S/ADR (IFJPY)
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Source: Yahoo! Finance
The average price of the fuel – used to power everything from trucks to industrial machinery – sat at a statewide $7.67 per gallon Sunday, according to the American Automobile Association , also the most Californians have ever paid. Now experts are warning the huge surge is going to hit consumers in the pocket by summer, with everyday goods set to skyrocket. Just weeks ago, on March 2, diesel in California was $3.90 a gallon, meaning prices have doubled in a month. Gas prices at a Shell station in San Francisco on Sunday. Noah Berger for California Post The price of diesel no.2 at a gas station in Encinitas. REUTERS The spike comes as the rest of the U.S. sees diesel prices begin to stabilize after soaring in the wake of military action against Iran and the closure of the Straits of Hormuz. The continued rise comes as U.S. Energy Information Administration data found nationwide diesel prices rose by just 2.6 cents in the last week of March, with three regions actually see
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