Mar 1, 2023 - News

San Francisco Bay Area gas prices among nation's highest

Gas prices in the <b style='text-decoration: underline; text-underline-position: under; color: #ff7900;'>San Francisco</b> metro and <b style='text-decoration: underline; text-underline-position: under; color: #858585;'>U.S.</b>
Data: GasBuddy; Note: Price as of the 1st of each month; Chart: Axios Visuals

The San Francisco Bay Area saw some of the country's highest average gas prices, at $4.76 per gallon in February, per GasBuddy data.

What's happening: While that cost is down 3% year over year, it's up 5% from January.

  • Of note: Taxes, regulations and snags with local refining operations can sometimes lead to higher prices across California.

Zoom out: Nationally, gas cost about $3.40 a gallon in February — down 6% year over year, but up 2% from January.

Why it matters: More than three-quarters of Americans commute to and from work, meaning they're particularly sensitive to the ebbs and flows of prices at the pump — especially as other basic goods also get more expensive.

  • Gas prices are also a political football, rightfully so or not.
  • When they're high, many Americans tend to blame whoever's sitting in the Oval Office — even though, as Axios' Andrew Freedman has reported, they lack significant control over the cost of commodities priced on global markets, oil included.

Driving the news: Oil prices spiked last year amid uncertainty over Russia's invasion of Ukraine and the economic sanctions against Russia — a major oil producer — that followed.

Reality check: As Axios' Joann Muller recently found, charging up an EV isn't always significantly cheaper than filling a tank with gasoline — especially on road trips.

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