by Katy Grimes, E&E Legal Senior Media Fellow and California Globe Editor
As Appearing in the California Globe

Gov. Newsom issued executive order to ban fracking and oil extraction

The national average price for a gallon of gasoline rose six cents over the past week to hit $3.38, according to AAA. California has the highest average cost for regular grade gas at $4.54 a gallon, $4.745 for mid-grade unleaded, $4.871 for premium unleaded, and $4.684 for diesel.

While the average price for a gallon of regular gas is already high at $4.54, drivers are paying as high as $8.49 in some California cities. Hawaii is second to California at $4.292 per gallon.

Oklahoma has the lowest gas price at $3.020 with Texas at $3.040.

“The pump price has gone up every day in the past 27 days, adding approximately 20 cents to the cost of a gallon of gas,” AAA said.

What is driving the gas prices up besides California’s environmental regulations, Gov. Gavin Newsom’s executive order banning fracking and oil extraction, and the Biden administration cutting off the Keystone Pipeline?

“The recent rise in the pump price is due to higher demand coupled with a decline in stocks alongside elevated crude prices,” AAA reports. “Global oil production is still below pre-pandemic levels. According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by 5.4 million bbl to 217.7 million bbl last week. However, gasoline demand increased from 9.19 million b/d to 9.63 million b/d. Since the cost of oil accounts for more than half of the pump price, consumers will be paying more as long as crude prices remain high.”

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