WEATHER »

Gas Prices Skyrocket


As it does any time strife in the Middle East reaches new levels of upheaval, the price of gas has skyrocketed in the United States, with costs in California and Santa Barbara jumping even higher. Gas is currently $4 a gallon in Montecito and around UCSB. Since February 7, the nation’s average gas price has gone from $3.11 a gallon to $3.50 a gallon. California’s median price per gallon increased from $3.38 to $3.89, and the City of Santa Barbara’s from $3.39 to $3.97. UCSB economics professor Dr. Henning Bohn explained the rise began when the futures market priced crude oil at 20 cents more per gallon last month, causing retail prices—with refinery markups included—to similarly rise. Bohn also pointed to general concern over possible oil sanctions in the Middle East with many worried about a potential sanction in Saudi Arabia.

To submit a comment on this article, email letters@independent.com or visit our Facebook page. To submit information to a reporter, email tips@independent.com.



event calendar sponsored by:

New Insights on Butterfly Migration Revealed

Monarch migrating from Oregon to Santa Barbara found to be breeding out of season, a first in ...

Water Managers, County Wrangle Over Lake Cachuma Supply

In some ways, the South Coast is in a worse drought fix than in 2014.

Brooks Is Back

UCSB PaCE to offer two Brooks courses this winter.

Heroin Bust in Santa Barbara

Three men were detained at three locations, one arrested.

Woolsey Fire Grows, Two Reported Dead

Highway 101 remains closed between Thousand Oaks and Westlake Village; Highway 1 also closed at Pt. Mugu; ...