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.
If it gets expensive, I can always get solar. Once you pay for the initial investment of the equipment, it’s basically free energy for decades.
I want to say our estimated break even was about a decade at our current consumption. I definitely need to get more quotes and see what the market has to offer. It’s 100% a bucket list item for me. My other hesitation is that I don’t want to live in my state for another 10 years. I think that I’m probably stuck here, but I feel once I pull that trigger, I’ve sealed my fate. My family and my wife’s are relatively near by, and while I’d move tomorrow if I could and budget for flights back, my wife does not feel the same.