The war in Iran has caused a spike in gas prices that is hitting California consumers especially hard, according to data from the American Automobile Association (AAA).
AAA reports that in California, the most expensive US market for gas, the average price per gallon on Monday was $5.20, compared with $3.47 nationally. The national average climbed nearly $0.50 since the conflict began more than a week ago, while in the Golden state it rose by $0.55.
Since the US and Israel launched attacks on Iran on 28 February, leading to intensifying violence across the Middle East, the price of oil surged to more than $100 a barrel for the first time in nearly four years. The conflict has damaged oil and gas facilities and stranded ships carrying roughly 20m barrels of oil a day in the Gulf.
About 20% of the world’s oil is shipped through the strait of Hormuz every day but the channel has essentially been closed for the last week.
You’re still affected by this as nearly everything you buy was transported on a truck.
Also, Californians pay 3x the national average for electricity too.
The thing is EV owners have more money left for food.
Or, in my case, cyclists - a am mid-fifty now, and never hada car. When I feel the need to smile, I sum up the money I have saved this way.