"Surging Gas Prices: California's Struggle at the Pump"

Gas prices in California have surged to an average of $5.27 per gallon, driven by refinery challenges and speculative buying in global markets. The state's special blend requirements, high taxes, and fees also contribute to its traditionally higher gasoline prices. While demand is expected to continue growing during the summer driving season, experts anticipate demand destruction if prices become too high. California recently passed a law to regulate gas prices, but concerns remain about potential supply shortages and the impact on importers doing business in the state.