Gasoline prices in California have seen a steady increase for the eleventh consecutive day, with the statewide average reaching $5.66 per gallon on Saturday. The average price in the Los Angeles area climbed to $5.73 on the same day, continuing a daily ascent.
These rising costs place California as the most expensive state for fuel in the nation. The current statewide average is up from $5.58 on August 19. Nationally, the average price for regular gas stood at $4.08 per gallon on Saturday, a slight decrease from the previous month but more than 80 cents higher than a year ago.
Analysts attribute the elevated prices to a combination of factors, including continued volatility in the Strait of Hormuz, a critical oil shipping route, and California's specific energy policies. Crude oil prices have remained in the $80 per barrel range due to instability in the oil supply. Late last week, oil prices briefly surpassed $90 per barrel before a slight decrease.
In response to the persistent increases, President Donald Trump is scheduled to meet with oil refining executives next week. The discussions are expected to focus on strategies to lower gas prices and enhance domestic fuel refining capacity.