LAS VEGAS – Many drivers in Las Vegas are feeling frustrated due to a recent increase in gas prices. An expert shared insights with 8 News Now on Thursday regarding the factors contributing to the shift.
“It’s truly unfortunate, you see,” driver Raul Davalos remarked. “To get to work.”
Drivers in Southern Nevada are feeling the strain at the pump, and they shared with 8 News Now how they are managing the situation.
“I ensure I capitalize on every rewards program available,” driver Julie Ostrovsky stated. “Savings at the supermarket.”
As of Thursday, the average price in Las Vegas and Nevada reached $3.87 per gallon, reflecting a two-cent increase from the previous week and a rise of 20 cents compared to last month.
8 News Now had a conversation with John Treanor from AAA Nevada regarding the unexpected increase.
“Several factors are contributing to the rise in gas prices,” Treanor noted. “Throughout the nation and right here in Nevada.”
Treanor shared with 8 News The seasonal shift is influencing prices, as fuel stations move from winter blend to a more expensive summer blend.
Nonetheless, he mentioned that this alteration is also linked to our counterparts in California.
“The majority of our gas supply in Southern Nevada comes from California,” Treanor clarified. “As prices rise in California, Nevada tends to mirror that trend.”
A significant blaze erupted at the well-known Martinez Refinery Co. in the Bay Area in early February.
Recently implemented legislation in California mandates that refineries maintain a baseline supply of fuel at all times, aiming to mitigate the risk of significant shortages that could affect consumers.
Excluding that inventory from the equation means it won’t be shipped to Nevada and Arizona, which could lead to price fluctuations in both states.
Treanor remarked that it has disrupted the usual balance of supply and demand in the state.
“There’s a significant pressure on availability in California, coupled with high demand due to the pleasant weather,” Treanor shared with 8 News Now. “With elevated demand and limited supply, prices are on the rise.”
Individuals taking to the road shared with 8 News This situation is certainly challenging, and they will strive to mitigate the impact of the shift.
Davalos described it as a significant chain reaction. “Ultimately.”
“I require fuel; I must reach my job,” Ostrovsky finished. “I need to share a ride with the children.”
Las Vegas has yet to reach its peak gas price, which was $5.76 per gallon in 2022.
Treanor mentioned that forecasting the exact trajectory of prices is challenging, yet other specialists have pointed out the possibility that current prices might reach their highest point in April.
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