As New Calif. Law Takes Hold, Murrieta Gas Prices Already Rising

After 31 consecutive days of price decreases and price declines on 88 of the previous 90 days, which sent the price to its lowest amount since May 22, 2009, the average price of a gallon of self-serve regular gasoline in the Inland Empire rose 1.4 cents today to $2.618.

The increase comes one day after gasoline began being covered under the Cap-and-Trade Program which requires fuel suppliers to reduce greenhouse gas emissions by supplying low-carbon fuels or purchasing pollution permits to cover the greenhouse gases produced when the conventional petroleum-based fuel they supply is burned.

The price dropped $1.058 over the previous 90 days, including 1.1 cents on Thursday, to its lowest amount since May 25, 2009, according to figures from the AAA and Oil Price Information Service.

Despite Friday’s increase, the average price is 3.7 cents less than one week ago, 43.4 cents lower than one month ago and $1.056 below what it was one year ago.

The Cap-and-Trade Program is among the provisions of the Global Warming Solutions Act of 2006, approved by the Legislature and signed into law by then- Gov. Arnold Schwarzenegger.

– By City News Service.

(Image via Shutterstock)