Gasoline prices locally continue to surge skyward with no end in sight, jumping 10 cents today alone after a steady increase earlier this year. It is reported that a fire at a refinery near Blaine, Wash. is the current culprit, as it has led to California gasoline being diverted northward.
What is most worrisome about this latest series of increases is that it is so early in the year for prices to be heading upward. California refineries normally shut down for maintenance in spring, as they transition from less expensive winter blends of gasoline to more complicated summer blends, which usually leads to a run-up in price with a peak in around June.
Could $5 a gallon be in our near future? According to at least one industry source, it is looking more and more likely.