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Gas Prices Hit 8 Dollars

by Market FinancePosted onJune 1, 2022June 1, 2022

This is getting ugly folks.

Gas prices have officially gotten so high that once city in California is now charging more than $8 for a single gallon of gasoline.

According to Fox, a Chevron gas station in Los Angeles on the corner of Alameda Street and Cesar E. Chavez Avenue is charging more than $8 for a gallon of regular gasoline and locals are furious.

In a statement to reporters, Chevron explained that the majority of its California branded stations are independently owned and operated and “unique” factors are caused very high prices in the state of California.

In a statement Chevron explained, “In addition to the price of oil, other factors include the competitive conditions in the marketplace, the higher cost to produce gasoline to the specifications required by the California Air Resources Board, costs associated with fuel distribution, local, state and federal taxes, California carbon-compliance costs, recent inflationary pressures, and fixed costs of doing business that are often higher in California relative to other states (e.g., the cost of commercial real estate).”

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