California gas prices could top $8 a gallon by 2026, new study says

SAN FRANCISCO (KGO) -- California gas prices, already the highest in the nation, could get even more expensive.

According to a new report, prices at the pump could reach $8 a gallon by 2026.

Michael Mische, who is a professor at the University of Southern California, wrote that report.

"Supplies will drop. It's questionable as to how we're going to compensate for the drop in supply relative to demand. And prices will go up. That's simple economics," Mische said.

Mische believes the upcoming closures of several refineries-including the one in Benicia as well as one in Los Angeles- will send gas prices higher in the coming months.

Julian Vogel, who studies commodity prices at San Jose State University, says it won't be easy or cheap for California to replace the oil lost from the closing refineries.

"California does not have any incoming pipeline ending in the state so that is difficult. So it relies on importing oil entirely from marine shipments," Vogel said.

MORE: Valero may close Benicia refinery by next year, citing CA regulations and high costs

News of a potential gas spike unnerving for many Bay Area drivers.

"I'll probably take more public transportation, like the bus, and Lyft and Uber," said Mila Dasco.

On the streets of San Francisco, many drivers told us if gas prices went that high, they'd likely change the way they get around town.

"Me and my fiance share one car, but I could see us going to zero if gas was eight bucks for a long period of time," said Samir Reddy.

Governor Gavin Newsom has pushed back on the study following the debate it's caused in recent days.

In a post on social media, his press office called into question Mische's credibility as well as the model he used to predict prices.

While no one knows for certain where gas prices might head in the future, Mische thinks they are ways lawmakers could help lower prices for drivers.

"Such as rolling back the state excise tax. Such as delaying any low carbon fuel standard implementation. Capitating cap-and-trade to a fixed amount. Those would all be beneficial to the California consumer," Mische

As of Friday, the average price for gas in California was $4.85 a gallon.