West Coast spike in gas prices tied to refineries
Monday, May 14, 2012
PORTLAND, Ore. (AP) -- Motorists across the country have been getting a break on gas prices. But not on the West Coast.
The average price for a gallon of regular gasoline in Oregon was $4.17 on Monday, up 16 cents from last week. The price was $4.20 in Washington state and $4.35 in California.
Analysts say a shortage of gasoline inventory has caused a price spike in the wholesale market.
The shortage is tied to refinery issues. The planned restart of a BP refinery in Washington state failed last week and five of California's 12 refineries have reduced production because of scheduled maintenance.
Analysts expect the surge in prices to be short-lived as refineries return to their usual production.