-April 21,2019-
Chevron is selling oil from its big Midway Sunset oil field in Kern Country for $70 a barrel today, up from just $50 at the start of 2019.
WTI crude is spiking higher today based on news reports that President Tump will clamp down on all oil exports from Iran.
California motorists are already facing pain at the pump this spring according to AAA. The California average price for unleaded is $4.03 today, up from a $3.43 month ago. California prices are over $4 a gallon for the first time in five years. Diesel ushers are getting no relief at $4.07 a a gallon – up from $3.84 a gallon a month ago.
With the summer driving season ahead of us, expect prices to head higher. But oil expert Tom Kloza tweets “The coast is not yet clear, but the foreign gasoline will help. I stand by my prediction which suggests Easter Sunday prices in L.A. will be higher than prices on Memorial Day.”