Tuesday, March 10, 2015 – 10:15 a.m.
We’re back on Gas Price Watch.
The price of Crude Oil has resumed its slide. But Inland Empire gas prices haven’t.
An ever increasing inventory glut is forcing down the price of West Texas Intermediate Crude Oil (WTI).
The midday Tuesday price for WTI is near $48.50 per barrel. That’s a 9.3% increase from the January low of $44.37.
However, Inland Empire gas prices are stuck at about $3.29 per gallon. That’s a difference of 50.2% above the January low of $2.19 per gallon. Some areas of the region have witnessed a fractional drop of a penny or two.
No excuse in the world justifies this type of ripoff. Nevertheless, California driver’s are continuing to take it in the shorts.
It’ll be interesting to see California weekly gasoline refinery production and inventory numbers that will be released on Thursday.