Gas Prices Rising – Short Supply Said To Be Fueling It

FRESNO (KMJ) — Have you seen it? Gas prices are quietly going back up again.

Prices going up tend to be due to a lack of supply – and that's certainly the fear this time around.

It's thought an explosion at the ExxonMobil refinery in Torrance could limit the supply to gas stations across California.

Add to that the largest refinery strike in more than 30 years.

Workers with the United Steelworkers Union have been walking out across the country – due to complaints over safety and staffing issues.

"The strikes that have taken place at several US refineries had some impact on price", says oil analyst Trilby Lundberg.

"The average price of gasoline is up 13 cents on the past two weeks – this is after it rose 13 cents in the prior period. So what we have is the market bottomed out four weeks ago and has gone up 26 cents since".

The uncertainty in the market is already showing itself in the Central Valley. The average price has gone up by 40 cents in a month – now standing at around $2.83 per gallon.