Filling up your gas tank is like a big game of “The Price is Right.”
You cannot be certain of the current price, but you take a chance and fill up your car anyway.
But why are the gas prices always changing?
For California, the reliance on local refineries means any disruption in oil barrel pricing is almost immediately felt locally.
“Energy makes California run,” explained Nicole Decker, an energy strategist for UBS wealth management. “Right now there isn't a substitute for oil. We need our oil and if we're one barrel short, we are going to see that impacted,”
However, to see stable gas prices, Decker believes more domestic oil production is needed.
“By the end of this decade, North America could be completely energy independent,” Decker predicts.
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Although, there is a catch.
Domestic oil could lead to stability, but it would also likely result in higher gas and oil prices.
Nevertheless, higher prices may be necessary to generate domestic production. For the consumer, this means gas at least $1 to $1.50 more than current prices.
Even still, Decker seems optimistic about the outcome of higher but stable pricing.
“What is beautiful about the emerging trends in the United States is that we will not have to import oil,” Decker explains.
