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  • Approved for CNN

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    Posted October 5, 2012 by
    ChrisMorrow
    Location
    Imperial Beach, California
    Assignment
    Assignment
    This iReport is part of an assignment:
    Surging gas prices

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    Gas Prices Skyrocket in California

    By ChrisMorrow  |  Posted October 5, 2012  |  Imperial Beach, California
     

    CNN PRODUCER NOTE     ChrisMorrow told me, 'It has been up to $5 but the rise is the fastest I've seen. Not good for someone going on driving vacation in a week.'
    - hhanks, CNN iReport producer

    4 days ago the gas price at this gas station in Imperial Beach was $3.99. Today, The price is $4.49 and will continue to rise due to gas shortage.

     

    "Reportedly in recent weeks, local refineries were dropping production levels, exporting supply to Mexico and other countries, and allowing inventory to dwindle in anticipation of switching over to production of winter blend gasoline, then a refinery power outage and a pipeline incident occurred on Monday that sent wholesale markets into a panic about the adequacy of California fuel supplies," said Jeffrey Spring of the Automobile Club of Southern California.

     

    Spring said "it's not clear" how much higher prices will go.

     

    "A lot depends on whether the perceived supply issues are quickly addressed," he said.

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