Consumer Watchdog Report Finds Oil Refiners Rigged Imports and Exports To Inflate CA Gas Prices In 2015

Mon, Feb 8, 2016

Consumer Watchdog Report Finds Oil Refiners Rigged Imports and Exports To Inflate CA Gas Prices In 2015

CONTACT: , 310-392-0522 x327

Exxon Parked Tanker In Singapore, Chevron Exported To Drive Price Spike

Santa Monica, CA — Consumer Watchdog delivered a report today to a state panel finding that California’s largest oil refiners calibrated imports and exports of gasoline to artificially inflate gasoline prices during the first nine months of 2015, when gas prices were consistently $1 per gallon higher than the nationwide average.

Continue reading...

Tue, Feb 2, 2016

Tesoro Reports Record California Profits After California Price Spike

CONTACT: , 310-392-9522 x327

Tesoro Reports Record California Profits After California Price Spike

Santa Monica, CA — Tesoro, the state’s second largest refiner, reported today that 2015 was its best year ever for refining in California. Based on an analysis of the company’s annual filing, Consumer Watchdog has found that in 2015 the company made $1.9 billion in California alone- their best year ever by over a billion dollars. The company controls 27% of California’s refining capacity. Tesoro made $423 million in California in the fourth quarter of 2015.

Continue reading...

Fri, Jan 29, 2016

Gouged California Drivers Bankroll Chevron’s Best US Refining Year Ever

CONTACT: , 310-392-0522 x327

Gouged California Drivers Bankroll Chevron’s Best US Refining Year Ever

Santa Monica, CA — Chevron’s US refining profits soared to their highest ever in 2015, thanks to California drivers who paid inflated prices for gasoline, Consumer Watchdog said today.

Continue reading...

Thu, Jan 28, 2016

Overpriced California Gasoline Fuels Tripling of Valero’s Average Annual Profits

CONTACT: , 310-392-0522 x327

Overpriced California Gasoline Fuels Tripling of Valero’s Average Annual Profits

Santa Monica, CA — Valero, California’s fourth largest oil refiner, reported $852 million in profits from oil refining in California in 2015, blowing past prior years’ profits by treating drivers who buy California gasoline as cash cows, Consumer Watchdog said today.

Continue reading...

Wed, Dec 16, 2015

Californians Overpay $10 Billion For Gasoline In 2015; Consumer Watchdog Shows Oil Refiners Rig Market With Secret Trades & Anti-Competitive Acts

CONTACT: , 310-392-0522 x327

Californians Overpay $10 Billion For Gasoline In 2015; Consumer Watchdog Shows Oil Refiners Rig Market With Secret Trades & Anti-Competitive Acts

Sacramento, CA — Consumer Watchdog today revealed to a state oversight panel new tactics by which California oil refiners had their most profitable years ever and state drivers paid more at the pump than ever before compared to US drivers.

Continue reading...

Thu, Nov 19, 2015

Refiners Chevron, Tesoro, and Valero Each Triple California Profits In First Nine Months To Highest Ever; Spike Mirrors Record Lobbying Spending

CONTACT: , 310-392-0522 x327

Refiners Chevron, Tesoro, and Valero Each Triple California Profits In First Nine Months To Highest Ever; Spike Mirrors Record Lobbying Spending

Santa Monica, CA – The three major refiners that provide detailed profit information reported their best ever year to date from oil refining in California. Each company at least tripled their average historical profits in the third quarter, according to Consumer Watchdog’s analysis released today.

Continue reading...

Fri, Oct 30, 2015

California Consumers Drive Chevron To Record Refining Profits In First Nine Months

CONTACT: , 310-392-0522 x308

California Consumers Drive Chevron To Record Refining Profits In First Nine Months

Santa Monica, CA — Chevron today reported its highest U.S. refining profits for the first nine months of the year—a whopping $2.6 billion as compared to $1.7 billion for the same period last year. Since 54 percent of the company’s refining takes place in California, California drivers paid the price, Consumer Watchdog said today.

Continue reading...

Thu, Oct 29, 2015

Tesoro & Valero Report Best 3rd Quarter Ever For California Refining On Record Gasoline Price Spike

CONTACT: , 310-392-0522 x327

Tesoro & Valero Report Best 3rd Quarter Ever For California Refining On Record Gasoline Price Spike

Santa Monica, CA – The two California refiners that break out California-specific profits today reported their most lucrative California quarters ever. Tesoro’s & Valero’s quarterly reports for July through September help explain why Californians have paid a dollar per gallon over the US average during 2015, Consumer Watchdog said today. The company more than tripled its per barrel profits.

Continue reading...

Wed, Oct 28, 2015

Excessive CA Gas Prices Fuel Best Refining Profits Ever For Valero, 14X More Than Same Quarter Last Year

CONTACT: , 310-392-0522 x327

Excessive CA Gas Prices Fuel Best Refining Profits Ever For Valero, 14X More Than Same Quarter Last Year

Santa Monica, CA – California’s 4th largest oil refiner reported today that it made its highest profits ever on oil refining in California this summer. Consumer Watchdog said the investor reports prove that the state’s excessive gasoline prices, which were a dollar more than the US average this summer, were pure profit for the refining industry and unreasonable.

Continue reading...

Tue, Oct 13, 2015

Consumer Watchdog Reports On Historic Gap Between Wholesale Prices and Retail Prices At Gas Pump To Expose California Gas Price Manipulation To Energy Commission

CONTACT:

Consumer Watchdog Reports On Historic Gap Between Wholesale Prices and Retail Prices At Gas Pump To Expose California Gas Price Manipulation To Energy Commission

Sacramento, CA — Consumer Watchdog testified Tuesday that the gap between the retail price paid at the California gas pump and the wholesale price of gas traded within the oil industry has never been greater – signaling gouging of the consumer.

Continue reading...

Mon, Oct 12, 2015

Big Oil Gives CA Energy Commission Finger, Refuses To Testify Tomorrow On $6 Billion Consumer Gas Gouge

CONTACT: , 310-392-0522 x327

Big Oil Gives CA Energy Commission Finger, Refuses To Testify Tomorrow On $6 Billion Consumer Gas Gouge

Santa Monica, CA — The oil industry is refusing to produce a single representative to answer questions tomorrow on gasoline supplies and possible manipulation of gasoline prices before advisors to the California Energy Commission, Consumer Watchdog said today. It’s the second rebuff to government. Last March, no oil industry representative was produced to testify before the California Senate on the same issue.

Continue reading...

Wed, Sep 30, 2015

Consumer Watchdog Warns Exxon Cannot Avoid Accountability for February Explosion Through Offloading Torrance Refinery

CONTACT: , 310-392-0522 x327

Consumer Watchdog Warns Exxon Cannot Avoid Accountability for February Explosion Through Offloading Torrance Refinery

Santa Monica, CA – ExxonMobil’s sale today of its Torrance Refinery may allow it to escape the state, but not culpability for the February 18 explosion or its subsequent coverups over its causes. That explosion injured four workers and endangered the community, and touched off a price spike that cost Californians $6 billion more for their gasoline than they would have paid otherwise.

Continue reading...

Thu, Sep 3, 2015

Labor Day CA Gouging Gap At Pump Rises To $5.3 Billion Since February: Oil Refiners Exporting Amid Gasoline Supply Shortage

CONTACT: , 310-392-0522 x327

Labor Day CA Gouging Gap At Pump Rises To $5.3 Billion Since February: Oil Refiners Exporting Amid Gasoline Supply Shortage

Santa Monica, CA – A new analysis by Consumer Watchdog shows Californians have paid $5.3 billion extra for their gasoline due to the higher amount Californians are charged than the rest of the nation since February. As Labor Day weekend approaches, Californians are paying 88 cents more than the national average.

Continue reading...