Rising California gas prices expected to increase even more [View all]
Source: San Jose Mercury News
If West Coast motorists were stunned last week when gas prices jumped as much as 16 cents a gallon at some stations, prepare for Stunner No. 2.
Prices could rise an additional 20 cents in the next few days, as refinery problems continue to choke supplies for California's special blend of clean burning gas. On Thursday, many Bay Area stations saw jumps of several cents to a dime.
... At midday Thursday, Rotten Robbie President Tom Robinson was stunned to find out that West Coast spot prices were 70 cents higher than on the New York Mercantile Exchange. The exchange handles billions of dollars worth of energy products and other commodities and is the basis for prices that people pay for various commodities like oil throughout the world.
... Bloomberg News reported that Phillips 66, Royal Dutch Shell and Tesoro have been performing work on units at three out of the five refineries in the Bay Area. And BP's Cherry Point refinery in Washington state also has been down, but could restart production early next week.
Read more: http://www.mercurynews.com/traffic/ci_20597244/rising-california-gas-prices-expected-increase-even-more
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