California Gas Prices Hit Record High

Gas in California has hit a record high with an average price of $4.72 a gallon on Wednesday, February 15. According to CNN Business, experts predict in a matter of months, $5 a gallon will be the norm across the state.

The US national average is currently $3.51 a gallon and California prices are among the highest due to changes at West Coast refineries. According to CNN Business, facilities are being modified to refine renewable fuels like diesel made from vegetable oil and some facilities have closed.

"California is the proxy for what will happen with the energy transition," Tom Kloza, global head of energy analysis for the Oil Price Information Service, the firm that tracks gas data for AAA told CNN Business. "A number of refineries have closed permanently.... Getting people away from fossil fuels might be the right thing to do, but it is not without pain."

The change to renewables also affects prices with higher taxes. California state gas taxes and fees are about 68 cents a gallon while the national average is 39 cents, according to the American Petroleum Institute.

CNN Business reports that California's new record is the highest for any state. The next highest record price was $4.70 a gallon in Alaska set in July 2008.