Gas Prices Likely to Come Down in the Coachella Valley Soon

By Adrianna Weingold

CREATED Oct. 5, 2012

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  • Across the state and right here in the Coachella Valley the price of gasoline reached near record levels Friday. Consumers woke up Friday morning to find gas prices had risen 20 cents a gallon in some places. Video by kmir6.com

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PALM DESERT--Across the state and right here in the Coachella Valley the price of gasoline reached near record levels Friday. Consumers woke up Friday morning to find gas prices had risen 20 cents a gallon in some places.  

We are just 5 cents shy of reaching an all-time statewide record. Right here in the Coachella Valley some stations didn't get shipments of gas they expected and had to shutdown for the day. 

At the Costco in Palm Desert the first and only truck delivery of gasoline came around 2p.m. Customers were lined up 10 cars deep. In La Quinta the Costco ran out of gas completely.

"We're at the mercy of them right? Unless you carpool or you walk or you get a bike or you get a horse and buggy," La Quinta resident Sarah Lee said.

Refinery problems across California and the temporary closure of the Alaska Pipeline has sent prices on the West Coast soaring. The statewide average is at $4.56 a gallon for regular unleaded. 

In Riverside County the price per gallon went up 18 cents in a single day.

Economist Kevin Cochrane says there is good news on the horizon. The surge in gas prices shouldn't last much longer.

"It's a temporary issue. In a couple of weeks we should see it all bounce back because Phillips will pull that back on-line and hopefully in the next day or two they'll get the pipeline cleared," Cochrane said.

 

Southern California refinery that suffered a power outage that helped send gas prices soaring is back online.

 

ExxonMobil spokeswoman Rachael Moore said Friday that the refinery in Torrance resumed normal operations and would be able to meet all of its contractual commitments.

Exxon has no additional comment.

Analysts say problems at the refinery were among the factors leading to soaring gas prices in California since Thursday.

The average price for a gallon of regular gas statewide hit $4.56 on Friday. Prices jumped by as much as 20 cents a gallon overnight in some areas.

The statewide record of $4.61 was set in June 2008.

The AAA Daily Fuel Gauge report says the average price of gas across the state was nearly $4.49 a gallon -- highest in the nation.

In Southern California, the price jumped 20 cents a gallon to $4.53 in Ventura and 19 cents to nearly $4.54 in the Los Angeles-Long Beach area.

Refinery problems have helped send wholesale prices soaring.

Some stations ran out of gas and closed Thursday rather than pay those costs. The Costco gas station in La Quinta was closed Friday.