#BigOil profits set to soar as they deliver another punishing blow to California

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California motorists paying punishingly high prices at the pump.

Summer driving season is fast approaching, and Big Oil is wasting no time jacking up prices at the pump.

The Orange County Register reports that the average price of a gallon of self-serve regular gasoline in Los Angeles County has risen to $3.606, its highest amount since Aug. 27, 2015.

The average price has increased seven of the past eight days, rising 2.8 cents, according to figures from the AAA and Oil Price Information Service.

The average price is 2.7 cents more than one week ago, 11.6 cents higher than one month ago and 55.5 cents greater than one year ago. It has risen 45.6 cents since the start of the year.

The oil industry operates in an environment controlled exclusively by the California Legislature. There is literally no competition in the marketplace. Thus price increases equate to billions in profits for the oil industry.

 

Not a peep from policy makers in Sacramento.

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One thought on “#BigOil profits set to soar as they deliver another punishing blow to California

  1. This is mainly due to Jerry ripping us all off to get cash for his Choo-Choo- train to nowhere.. They passed a 12 cent hile and soon.. 70 cent is coming.. Enjoy the Socialist Venezuelan state you voted for !!

    Like

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