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<Commodity>Diesel Prices in California, US, Hit Another All-time New High; Oil Firms Once Warn of Potential Energy Crisis
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Since the end of February, when the US and Israel launched military actions against Iran, fuel prices, including gasoline and diesel, have been rising continuously in California. According to data released by the American Automobile Association (AAA) on Tuesday (31 March) local time, the average price of regular diesel in California. the US, reached US$7.45 per gallon, logging a new historical high. Higher fuel costs are reaching unprecedented levels, with soaring oil prices imposing an increasingly heavy burden on the daily lives of Americans and all walks of life, according to US media. Gasoline prices on the West Coast have always been high, as California is isolated from the US Eastern oil market by the Rocky Mountains. California also lacks connections to fuel supplies produced in the Southern US, making it an energy lonely island. Andy Walz, Chevron's Global Refining President, previously stated that California might be heading towards an energy crisis due to the US-Iran war, and unless California authorities lower taxes and relax regulations, the company might cease its refining operations in the area. AASTOCKS Financial News Website: www.aastocks.com |
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