Archive | July, 2015

Press Release

Refiner Valero’s Second Quarter California Profits 10X Higher Than Same Quarter Last Year Due to Market Manipulation and Gasoline Price Spike

CONTACT: , 310-392-0522 x313

30. July 2015

Refiner Valero’s Second Quarter California Profits 10X Higher Than Same Quarter Last Year Due to Market Manipulation and Gasoline Price Spike

Santa Monica, CA – Valero reported $294 million in second quarter California profits, more than ten times higher than the same quarter last year when the Texas refiner made $24 million. The most staggering increase came in per barrel profits. Last year the company made just 99 cents per barrel in California. This year that number reached $11.23 per barrel.

Continue reading...

Press Release

CA Data Shows Record Gas Price Spikes = Record Return For California Refiners; Oil Refiners Double Their Margins From Recent Pain at The Pump For Consumers

CONTACT: 310-392-0522 x327

22. July 2015

CA Data Shows Record Gas Price Spikes = Record Return For California Refiners; Oil Refiners Double Their Margins From Recent Pain at The Pump For Consumers

Santa Monica, CA — Newly posted data from California oil refiners shows that record price spikes at the pump have translated to a record high return to the oil companies of $1.17 per gallon in May of 2015. The average amount that a refiner receives for a gallon of gasoline has been just 46 cents since 1999, according to the California Energy Commission (CEC), but recently updated data on the CEC website shows that in May refiners took home more per gallon than ever before. Consumer Watchdog had urged the CEC to update the data, which had not been posted since August.

Continue reading...

Press Release

Californians Overcharged $4.5 Billion For Gasoline “Gouging Gap” Since Price Spike Began; Gas Prices Set To Climb Even More

CONTACT: Jamie Court, 310-392-0522 ext. 327

9. July 2015

Californians Overcharged $4.5 Billion For Gasoline “Gouging Gap” Since Price Spike Began; Gas Prices Set To Climb Even More

Californian drivers, who have paid an average of 74 cents more per gallon at the pump than drivers nationwide, have shelled out $4.5 billion more for their gasoline than US drivers from February to June, Consumer Watchdog said today.

Continue reading...