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Price Manipulation

News Story
11/29/2016
Posted by Mark Reback
A consumer advocacy group contends that California refiners are holding down gasoline production to inflate prices at the pump. California gasoline prices remain at least 50 cents a gallon higher than in other areas of the country even though a major Southern California refinery that was mostly shutdown throughout 2015 is back...
News Release
8/17/2016
Posted by Jamie Court
Santa Monica, CA -- Testifying before a state panel investigating California’s high gas prices, oil-trading company Vitol blamed ExxonMobil’s lack of transparency for the record 2015 gas price spike. Brad Lucas, a West Coast trader for the company, stated, “if there was more transparency around what was going on with refinery...
News Story
8/15/2016
Posted by Mark Reback
Gasoline is cheap in California compared to a year ago. But it's nowhere near as cheap as it could be. Californians currently spend 49 cents more per gallon than the national average, according to the U.S. Energy Information Administration. For most of the last year, that difference exceeded 60 cents. Several times last summer, it topped $1...
News Story
8/11/2016
Posted by Mark Reback
Californians pride themselves on being number one. Highest population. Biggest economy. Top public university system. Most In-N-Out locations per capita. Let us count the ways in which the Golden State comes first in the nation. But in the competitive category of money spent on gasoline, Californians hold a more dubious distinction: Across the...
News Story
8/9/2016
Posted by Mark Reback
An advocacy group on Thursday blasted profit reports from California's oil refiners, saying there's a huge discrepancy between wholesale and retail prices of gasoline. The average price of a gallon of regular gas in the state is hovering around $2.70 — well above the $2.11 national average, according to the American Automobile Club....
News Story
8/6/2016
Posted by Mark Reback
LOS ANGELES -- Gas prices continue to fall across the country. The national average for a gallon of regular gas is $2.12, according to AAA. But in the most populous state -- California -- people are paying some of the nation's highest prices. A consumer watch group says California drivers are being taken for a ride. "This is the Golden...
News Story
8/6/2016
Posted by Mark Reback
SAN FRANCISCO (KPIX 5) — Even though gas prices in California are cheaper than they were this time last year, Consumer Watchdog says drivers are getting ripped off. The non-profit organization points to the huge disparity between wholesale gas prices and the prices Californians pay at the pump as proof. For example, in Los Angeles oil...
News Story
8/4/2016
Posted by Mark Reback
A nonprofit group that has repeatedly accused the oil industry of collusion to keep gasoline prices high in California reiterated that charge Thursday, pointing to new earnings reports, price data and remarks made by PBF Energy, the owner of the Torrance refinery. Jamie Court, president of Consumer Watchdog, said the Santa Monica-based group...
News Story
8/4/2016
Posted by Mark Reback
A consumer advocacy group accused oil refiners of intentionally keeping California’s gasoline prices higher than in the rest of the nation to bolster profits, despite growing inventories and falling wholesale prices. Consumer Watchdog argued Thursday that per-gallon pump prices should be lower than the current $2.69...
News Story
7/29/2016
Posted by Mark Reback
Wholesale gasoline in California became the cheapest in the country this week, but that change has largely gone unseen at the pump, where consumers are still paying the highest prices in the continental United States to fill up their cars. Ample inventories along with relatively stable refinery operations and imports has driven down the spot value...