California Refinery Shutdowns Could Push Gas Prices Toward $8 Per Gallon
Two major California refineries are on track to shut down within the next year, raising alarms over potential fuel shortages and sharp price hikes, according to KRON4 News. The Valero facility in Benicia is expected to close by spring 2026, and the Phillips 66 plant in Southern California may also halt operations soon.
According to KRON4 News, state officials warn that removing this capacity from the market could cause a significant supply crunch, especially as California continues its transition away from fossil fuels. With fewer in-state refineries, the state would likely need to rely more on imported gasoline — a move that could add costs at the pump.
Lawmakers are expressing concern over affordability, with some warning that aggressive climate policies could unintentionally lead to extreme fuel prices. One estimate suggests gas prices could climb by 75%, potentially exceeding $8 per gallon.
Related News
Related News
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- U.S. Moves to Block Enterprise Products’ Exports to China Over Security Risk
- Court Ruling Allows MVP’s $500 Million Southgate Pipeline Extension to Proceed
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- LNG Canada Start-Up Fails to Lift Gas Prices Amid Supply Glut
- TC Energy’s North Baja Pipeline Expansion Brings Mexico Closer to LNG Exports
Comments