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News Story
7/27/2015
Posted by Mark Reback
On June 25, just one week before many California motorists began paying upwards of $4.30 per gallon for gasoline, the Bahamian-flagged tanker Teesta Spirit left Los Angeles headed for ports on the west coast of Mexico carrying more 300,000 barrels of gasoline refined in California. The Teesta Spirit was just one of nine large tankers that left...
News Story
7/27/2015
Posted by Mark Reback
Consumer advocates are asking California Attorney General Kamala Harris to look into record-high oil industry profits this year. Consumer Watchdog, based in Santa Monica, wants Harris' antitrust division to investigate whether California oil refineries are keeping inventory low intentionally. New data compiled by the California Energy...
News Story
7/23/2015
Posted by Mark Reback
Click here to listen to the audio of this radio broadcast segment. Consumer advocates said oil refineries are logging record profits as the state's drivers pay gas prices well above $4 a gallon. Consumer Watchdog looked at refinery margins, which is the cost and profit calculated for every gallon of gas that's refined. The historical...
News Release
7/22/2015
Posted by Jamie Court
Santa Monica, CA -- Newly posted data from California oil refiners shows that record price spikes at the pump have translated to a record high return to the oil companies of $1.17 per gallon in May of 2015. The average amount that a refiner receives for a gallon of gasoline has been just 46 cents since 1999, according to the California Energy...
News Story
7/22/2015
Posted by Mark Reback
As drivers in California continue to pay well over $4 per gallon at the pump, the state's oil refineries are raking in record profits, raising a few eyebrows. For the first half of this year, the California Energy Commission says the refiners have almost doubled the amount of profits they make per gallon, according to the L.A. Times. From 1999...
Video
7/22/2015
Posted by Mark Reback
Newly posted data from California oil refiners shows that record price spikes at the pump have translated to a record high return to the oil companies of $1.17 per gallon in May of 2015. The average amount that a refiner receives for a gallon of gasoline has been just 46 cents since 1999, according to the California Energy Commission (CEC), but...
Video
7/22/2015
Posted by Mark Reback
Consumer Watchdog, a nonprofit consumer advocacy organization, says oil refineries are pocketing more money than ever in California history because of the recent spike in gas prices. On average, Los Angeles County drivers are currently paying $4.25 per gallon for regular gas, $1.50 more than the nationwide average. The Santa Monica-based group is...
Video
7/22/2015
Posted by Mark Reback
Consumer Watchdog’s research has shown that low inventories and recent exports of California’s refined supply have sent California gasoline prices to a record gap with American gas prices. Refined supplies are being exported to South and Central America even as low refining capacity and inventories in the state are pushing pump prices...
News Story
7/22/2015
Posted by Mark Reback
Frustrated with high gas prices? You're not alone. At a North Hills Mobil Station on the corner of Sepulveda and Nordhoff some drivers told us dealing with the higher prices is hard. One motorist said it cost him $100 bucks round trip to get to Anaheim. Another driver said, "I'm not gonna lie, it's a killer!" A couple of...
News Story
7/6/2015
Posted by Mark Reback
Filling up at the pump is often painful in California, where drivers tend to pay more for gasoline than in most other states. Many industry watchers attribute the high fuel costs to unique forces — chiefly California's clean-burning gasoline formula — that have isolated the market and kept it tightly balanced between supply and...