Bought gas recently? If you have, that sharp pain you felt shooting through your body was the feeling of cash being ripped from your pocket at an alarming rate.
Gas prices in California — never low to begin with — have rocketed close to a new statewide record, cresting at $4.59 on Friday. 2008’s record of $4.61 seems likely to fall.
A power outage at a Southern California refinery supposedly created wholesale shortages and a price surge. But California’s fragile energy markets — so ripe for price manipulation and profiteering in the past — leave this spike smelling awfully familiar.
Meanwhile, at a seedy corner gas station near you, don’t be shocked to find prices well above $5 per gallon, especially for premium grades.