""At least, up to six weeks I do not see a shortfall," Gunda said. "Beyond that, based on what we're hearing from the industry, the pricing will move molecules to California, but it will come at a price. And that's something we need to closely watch.""
"Severin Borenstein, an economist and researcher at the UC Berkeley Energy Institute at Haas, noted that if prices increase, demand may drop, which could potentially stabilize costs."
California leaders are preparing for potential increases in gas prices due to ongoing conflict in Iran and the closure of the Strait of Hormuz. The average gas price is currently $6.11 per gallon, with the state having lost two oil refineries that accounted for 20% of its refining capacity. Experts warn that California's reliance on foreign fuel makes it vulnerable to price spikes. The California Energy Commission has indicated that the state has enough fuel for the next six weeks, but prices may rise thereafter.
Read at SFGATE
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