California bad dreaming? Gas prices heading higher

Gasoline prices are making their annual spring climb. But Californians may see some especially painful spikes this weekend.

Nationally, gasoline averages $3.55 a gallon, up from a 2013 low of about $3.18. But in California - now averaging $4.01 a gallon after a 35-cent jump in wholesale prices since mid-March - prices could hit up to $4.25 within days.

Tarnishing pump prices in the Golden State: lower supplies and rising crude oil costs. Ethanol, blended into gasoline, is also up nearly 60% year-to-date on higher corn and rail shipping costs.

Nationally, 2014 gas prices will likely top at about $3.65 a gallon within the next few weeks, says Tom Kloza, senior energy analyst with price tracker

"We'll peak this month in many parts of the country, but you'll see higher prices in Southern California, the Northeast and parts of the Midwest,'' Kloza says.

Hawaii, currently averaging $4.27 a gallon, is the only other state with $4 plus gasoline. Montana has the nation's cheapest gas, averaging $3.26.

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