Chico gas prices on the rise

Feb 24, 2014 11:33 AM

The average price of gas in Chico has risen 5.2 cents per gallon in the past week averaging $3.61 a gallon yesterday.

Despite the recent rise, prices are 42.6 cents per gallon lower than they were at this time last year according to gasoline price website

The national average of gas prices has increased 12.5 cents per gallon during the last month and stands 32.6 cents per gallon lower than this day one year ago.

"The rate of increase in the national average has accelerated over the last week, and the worst is likely yet to come," said Senior Petroleum Analyst Patrick DeHaan. "Oil prices continue to move higher as refineries continue their maintenance season, leading to a double whammy at the gas station. In addition, in another month we'll also start seeing refineries producing more expensive, cleaner burning summer gasoline, and that will likely keep upward pressure on retail gasoline prices. Just a handful of stations across the nation are seeing a price under $3/gallon, and a few weeks from today, motorists along the West Coast with perhaps a few other states will be wishing for those current $3 prices," DeHaan said.


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