Gas Prices Jump in California, Across U.S.

California motorists are paying 3.5 cents more for a gallon for self-serve regular gasoline because of high crude oil prices and 24-year lows in gasoline inventories. The average price of regular grade gasoline rose to $1.702 a gallon in the state, up from $1.667 a gallon the week before, the Energy Information Administration said. The EIA’s weekly survey of 800 gasoline stations nationwide found that U.S. retail gasoline prices rose for the second straight week to $1.481 a gallon for self-serve regular, up 1.3 cents. Prices had been slowly declining for two months, but reversed direction as crude oil prices surged anew. Heating oil for September delivery hit 99.88 cents a gallon, a 10-year high, on fears that refiners may not be able to produce enough heating oil for the winter.