California Gas Prices Reach All-Time Record High

California’s average gas price reached a record high of $5.90 per gallon on Friday, according to AAA.

Just last month, the state’s average gas price was $4.79. One year ago, the average price of gas in the state was $3.88, a full $2.02 less.

Nationwide, the average price of gas ($4.24) has increased by about 70 cents since Russia invaded Ukraine. But gas prices had already risen about a full $1.00 since President Joe Biden assumed office and waged war on American energy independence.

Throughout his first year in office, Biden has made it difficult for oil companies to gain financing to drill on private lands. Biden has also halted new drilling on public lands and terminated the Keystone pipeline project that would have transported vast amounts of oil to American refineries.

On Wednesday, Gov. Gavin Newsom (D) proposed countering Biden’s high gas prices by handing out $400 direct payments per vehicle. The payments would be limited to two vehicles per family.

Gas prices are high in California because of higher fuel taxes and stricter red tape. As a result, the average driver in California is charged about $300 in excise gas tax each year, according to Newsom’s office.

Newsom’s plan to give money to drivers would entail $400 debit cards for registered vehicles, including electric-powered vehicles, perhaps to not reduce the incentive to purchase an expensive electric-powered car.

The scheme would cost $11 billion of taxpayers’ money, according to the wall street journal. Newsom’s plan still must be approved by the state’s legislature.

Follow Wendell Husebo on Twitter and Gettr @WendellHusebo

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