Are Gas Prices Finally Stabilizing?

After a one-week stratospheric climb, gas prices in California seem to have stabilized, at least for the time being. 

The California State Automobile Association says the "refinery supply chain issues" that plagued the state this month are getting resolved.

“Surging California gas prices made national headlines last week, due to a Monday power outage at the ExxonMobil refinery in Torrance, which sent wholesale gas prices through the roof,” says AAA Northern spokesperson Cynthia Harris. “Our already low gasoline supplies, approaching the October 31 end to summer-blend gasoline requirements, and combination of tight supply issues on the West Coast caused prices to skyrocket at the pump for consumers.”

CSAA officials did not say whether they expected prices to start to decrease now.

According to CSAA's price gauge report, the average price for a gallon of unleaded regular in California now sits at $4.67. A week ago, it was $4.18, a rise of almost 50 cents in seven days.

In the East Bay, the average price for a gallon of regular unleaded is listed as $4.68. A week ago, it was $4.20.

On the gas buddy website, among the lowest prices listed in the East Bay are $4.39 at the ABE station on Mission Boulevard in Union City. Both Bonfare stations in Concord are listed at $4.45 for a gallon of regular unleaded. The Costco in Concord also is selling gas for $4.45 a gallon.

On the high end, the Chevron on East Vineyard Avenue in Livermore is listed as selling gas for $4.95 a gallon. Two other Chevrons in that community are selling gas for $4.85 a gallon.