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LA Gas Prices Surge Amid Global Supply Issues

3/17/2026

Summary

Gas Prices Surge

Gas prices in Los Angeles average $5.62 per gallon, up $0.37 from last week and $0.96 from a year ago.
The rise is driven by higher global oil prices and Iran-related supply disruptions, with the International Energy Agency noting reduced oil transport through the Strait of Hormuz.
Diesel prices rose to $6.43 per gallon.
Energy Secretary Chris Wright suggested prices could fall below $3 per gallon by summer.

Summary

California Delays Regulation

The California Energy Commission's plan to regulate refinery profits during price spikes has been delayed five years, undermining consumer protection.
Experts warn prices could reach $8 per gallon as refinery closures loom.
Critics say California is unprepared to curb price gouging, while industry representatives cite shrinking refining capacity.
The Commission plans to reassess the profit cap rules soon as the state transitions away from fossil fuels.

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Gas Prices Surge

Gas prices in Los Angeles average $5.62 per gallon, up $0.37 from last week and $0.96 from a year ago.
The rise is driven by higher global oil prices and Iran-related supply disruptions, with the International Energy Agency noting reduced oil transport through the Strait of Hormuz.
Diesel prices rose to $6.43 per gallon.
Energy Secretary Chris Wright suggested prices could fall below $3 per gallon by summer.

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