Average Price of Diesel in California Jumped 86 Cents in February 2011

Jerome E. Horton, Chairman of the California State Board of Equalization (BOE), today released California gasoline and diesel consumption figures for February 2011.  California gasoline consumption remained flat, while diesel fuel consumption in California declined.

“As California gasoline consumption remained flat, higher gasoline prices have resulted in a greater percentage of household income going to gasoline,” said Horton.  “Consumers will likely continue to look for ways to use less gasoline in response to the higher prices they are now facing compared to a year ago.”

California’s gasoline consumption remained flat in February 2011 with 1.131 billion gallons of gasoline, compared to 1.131 billion gallons in February 2010.  In February 2011, the average price of gasoline at the pump in California was up 59 cents to $3.58 a gallon, a 20 percent increase, compared to California’s average price of $2.99 per gallon of gasoline in February 2010.  The U.S. average price of gasoline in February 2011 was up 56 cents to $3.26 per gallon, a 21 percent increase, compared the U.S. average price of $2.70 per gallon of gasoline in February 2010.

In February 2011, California’s diesel consumption totaled 176.5 million gallons, which is 19.1 million gallons less than February 2010 when diesel consumption totaled 195.6 million gallons, a decrease of 9.8 percent.  However, the February 2010 figures include an additional 11.3 million gallons of diesel fuel due to an audit assessment of prior monthly reporting periods.  If the audit assessment of 11.3 million gallons in February 2010 are excluded from the calculations, diesel consumption still decreased by 4.2 percent in February 2011.  California’s diesel fuel figures are net consumption that includes the State Board of Equalization’s audit assessments, refunds, amended and late tax returns, and the California State Controller’s Office refunds.

The average price of diesel in California rose 86 cents to $3.80 per gallon in February 2011, a 29 percent increase compared to February 2010’s average price of $2.94 per gallon of diesel fuel inCalifornia.  The U.S. average price for diesel rose 28 percent in February 2011 to $3.58 per gallon, up 79 cents compared to last year in February when the U.S. average price for diesel was $2.79.

The State Board of Equalization is able to monitor gallons through tax receipts paid by fuel distributors in California.  Consumption figures for March 2011 are scheduled to be available at the end of June 2011. All monthly, quarterly, and annual figures can be viewed at: www.boe.ca.gov/sptaxprog/spftrpts.htm.

Taxable Gasoline Gallons: www.boe.ca.gov/sptaxprog/reports/MVF_10_Year_Report.pdf

Taxable Diesel Gallons: www.boe.ca.gov/sptaxprog/reports/Diesel_10_Year_Report.pdf

By daryl

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