California Gas Prices Could Rise 75 Percent by End of 2026: USC Professor

Consumers can expect to pay as much as $8.44 per gallon on average, says the report.

Oil pumpjacks outside of Bakersfield, Calif., on March 21, 2025. John Fredricks/The Epoch Times

California gas prices could skyrocket by as much as 75 percent by the end of 2026 with the expected shutdown of oil refineries in the state, according to an analysis released May 5 by a researcher at the University of Southern California (USC).

Regular gasoline prices could rise from an average of $4.82 in April 2025 to as high as $8.44 a gallon by the end of next year, according to the report, which was authored by professor Michael Mische at the Marshall School of Business.