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California Gasoline Hits Record $4.94 Amid Russia Oil Fallout

  • Golden State is isolated from the bulk U.S. oil production
  • San Francisco gasoline prices surged to fresh record: AAA
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Higher Energy Prices Sustained Short-Term: Beveridge
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California, already paying record prices for motor fuel, is set to shell out even more with the Golden State more exposed to surging oil prices than the rest of the country in the wake of Russia’s invasion of Ukraine. 

Diesel prices at the pump rose to a record high $5.185 a gallon on Thursday, according to auto club AAA. The state’s gasoline also rose to fresh record of $4.94 a gallon while San Francisco prices topped $5, AAA said.