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News Story
10/22/2012
Posted by Mark Reback
For nearly two decades, Santosh Arya has pumped some of the San Diego area's cheapest gas at his three Homeland Petroleum stations. But his streak ended early this month, when wholesale prices started rising sharply, then shot up 40 cents a gallon overnight. To break even, Arya calculated he would have to sell a gallon of regular at $5.10...
News Story
10/18/2012
Posted by Mark Reback
SANTA MONICA, Calif. (Legal Newsline) – Consumer Watchdog urged California Attorney General Kamala Harris on Wednesday to block a $2.5 billion offer by Tesoro to acquire Arco gas stations and BP’s refinery in Carson. Consumer Watchdog sent a letter to Harris on Wednesday warning that the recent California spike in gasoline prices is a...
News Story
10/15/2012
Posted by Mark Reback
California consumer advocates are piping up about a Texas company's plan to buy a major fuel refinery in Carson, California. San Antonio-based Tesoro is hoping to buy the Carson refinery and hundreds of retail gas stations from British Petroleum. The multibillion-dollar sale would transfer one of the state's largest refineries and Arco gas...
News Story
10/12/2012
Posted by Daniel Palay
The following Op-Ed Commentary was published on Saturday, Oct. 12, 2012, in the Los Angeles Times.   How can a power outage at a refinery spark $5-a-gallon gasoline at some L.A. stations? Why would the fact that California had to switch to the winter-blend fuel at the end of October -- a fact known all year -- raise gasoline prices to record...
News Story
10/11/2012
Posted by Daniel Palay
But big drops won't come until station owners sell out costly fuel Gasoline prices across California finally started falling Wednesday after setting records for four straight days. But don't break out the bubbly just yet. California's average price for a gallon of regular gas slid half a penny from Tuesday to Wednesday, edging just...
News Story
10/10/2012
Posted by Daniel Palay
Consumer groups gear up to fight the sale of Arco and its Carson refinery to Tesoro, saying it would reduce competition and possibly lead to higher fuel costs. As California gasoline prices set fresh records daily, consumer advocates are gearing up to fight the sale of the low-cost Arco brand and its Carson refinery to a Texas company not known...
News Release
10/9/2012
Posted by Daniel Palay
Santa Monica, CA—The average price for regular gas in California now stands at $4.67 a gallon, a record for both California and the nation. The spike is a function of low gasoline inventories and recent supply disruptions. California’s refinery market is already too small—14 refineries power the world’s eighth largest...
News Story
8/14/2012
Posted by Mark Reback
The $2.5-billion deal would boost Tesoro's West Coast presence and give BP cash it needs. It also would leave Tesoro and Chevron controlling more than half of California's gasoline production. Texas oil giant Tesoro Corp. said it will spend $2.5 billion to buy a sprawling refinery in Carson and other assets — including the Arco...