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Press Release

Tesoro Reports Record California Profits After California Price Spike

CONTACT: , 310-392-0522 x327

5. August 2015

Tesoro Reports Record California Profits After California Price Spike

Santa Monica, CA — Analysis of Tesoro’s earnings released today showed that the company made more California refining profit in the second quarter than ever in the company’s history. Based on the number of barrels the company refined in California, and the profits they made from each barrel, Consumer Watchdog calculates that the company’s second quarter California refiner profits were a record high of $668 million, crushing their prior record of $415 million in the second quarter of 2007. This number is four times higher than their average California profit since 2005 of $138 million.

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Press Release

Consumer Watchdog Reports Gas Price Spike Costs Californians Record $1.2 Billion More In July; Oil Refiners Take Home $1.61 Per Gallon

CONTACT: , 310-392-0522 x327

5. August 2015

Consumer Watchdog Reports Gas Price Spike Costs Californians Record $1.2 Billion More In July; Oil Refiners Take Home $1.61 Per Gallon

Santa Monica, CA — California has broken all records for the biggest gap between what consumers here have paid so far versus the rest of the nation for gas at the pump, Consumer Watchdog said today. Californians paid $1.2 billion more, after tax differentials, than the rest of the nation in the month of July, a record, and $4.8 billion more for their gasoline over the last six months ending July 31st, since gas price spikes started. That amounts to $201 extra dollars paid by each California driver.

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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.

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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.

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Press Release

West Coast Oil Companies Exported Record Amount of Gasoline to Foreign Nations A Month Before “Supply Shortage” Price Spike That Cost Californians $3.6 Billion

CONTACT: , 310-392-0522 x327

11. June 2015

Santa Monica, CA – Oil companies exported more gasoline from the West Coast to foreign nations in the month of December 2014 than ever in the nation’s history, according to Energy Information Administration data analyzed by Consumer Watchdog.

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Press Release

Tesoro CEO Admits Refinery “Disruption” and Shutdowns = Big Profits, Echoing Chevron Statements About Pump Spike

CONTACT: , 310-392-0522 x327

8. May 2015

Tesoro CEO Admits Refinery “Disruption” and Shutdowns = Big Profits, Echoing Chevron Statements About Pump Spike

Santa Monica, CA — On a call with investors today, Gregory Goff, the CEO of Tesoro admitted refinery shutdowns and “disruptions” led to big profits on the oil company’s bottom line in the first quarter. Tesoro’s profit per barrel in the first quarter jumped by 20 cents, amounting to California profits of $119 million in the first quarter for the company.

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Press Release

New Report: Oil Refiners’ Profits Spike With Gasoline Price Spikes

CONTACT: , 310-392-0522 x327

5. May 2015

New Report: Oil Refiners’ Profits Spike With Gasoline Price Spikes

San Francisco, CA — Consumer Watchdog published a new report today, “Refining Profits: How Californians Get Fleeced At The Pump,” showing that oil refiners have made large profits from gasoline price spikes recently and over the last decade. The report reviewed ten years of publicly available profit data.

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Press Release

ALERT: California Gas Prices Up 37 Cents This Week; A Buck Over National Average, Driven By Refiner Shortages and Outages

CONTACT: , 310-392-055 x308

30. April 2015

ALERT: California Gas Prices Up 37 Cents This Week; A Buck Over National Average, Driven By Refiner Shortages and Outages

Refiners Remain Silent Because Law Does Not Require them to Disclose Information

Santa Monica, CA—The price of a gallon of regular gas in California spiked up another 40 cents this week and now stands at $3.59 a gallon at the pump due to fresh problems refineries have tried to conceal, Consumer Watchdog said today. Californians are now paying exactly a dollar more than the US average.

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Press Release

California Gasoline Prices Spike 28 Cents In One Week, 89 Cents More Than USA; Consumer Watchdog Calls On CEOs For Answers

CONTACT: , 310-392-0522, x308

28. April 2015

California Gasoline Prices Spike 28 Cents In One Week, 89 Cents More Than USA; Consumer Watchdog Calls On CEOs For Answers

Santa Monica, CA – Consumer Watchdog today said that a price spike of 28 cents per gallon at the pump over the last week was likely caused by a refinery outage or other refinery problems that the public is not privy to, and called on the California Senate to act.

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Press Release

Californians Paid $1 Billion Extra for Their Gasoline Over National Average in March

CONTACT: , 310-392-0075

9. April 2015

Californians Paid $1 Billion Extra for Their Gasoline Over National Average in March

Santa Monica, CA — California drivers paid $1 billion extra at the pump in March, when compared to the national average gas price charged to U.S. drivers, according to an analysis of the latest government data by Consumer Watchdog. The nonprofit consumer group said refiners continued to reap a windfall in the wake of refinery […]

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Press Release

Consumer Watchdog Says California Petroleum Reduction Targets Needed To Stop Oil Company Price Gouging

CONTACT: jamie@consumerwatchdog.org

7. April 2015

Consumer Watchdog Says California Petroleum Reduction Targets Needed To Stop Oil Company Price Gouging

Santa Monica, CA — The nonprofit group Consumer Watchdog said that California legislation being debated today to cut petroleum demand in half will radically reduce the price of fuel in California.

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Press Release

Tom Steyer and Consumer Watchdog Call On Legislators To Make Oil Company Executives Answer For February’s $550 Million Gas Price Spike

CONTACT: , 310-392-7931

31. March 2015

Tom Steyer and Consumer Watchdog Call On Legislators To Make Oil Company Executives Answer For February’s $550 Million Gas Price Spike

Santa Monica, CA — Business leader, philanthropist and climate activist Tom Steyer and Consumer Watchdog President Jamie Court asked California lawmakers to subpoena oil industry executives to explain why California’s gasoline market is structured for shortages and volatility. The executives declined to testify at a March 24 hearing before a joint Senate Committee hearing into February’s dollar-a-gallon price spike at the pump.

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Press ReleaseBlog Post

Californians Paid $550 Million Extra During February’s Gasoline Price Spike; Watchdog Report Finds Low Inventories & Profiteering Drive Gasoline Price Spikes

CONTACT:Posted by , 310-874-9989

24. March 2015

Californians Paid $550 Million Extra During February’s Gasoline Price Spike; Watchdog Report Finds Low Inventories & Profiteering Drive Gasoline Price Spikes

Santa Monica, CA — At a California State Senate hearing on February gasoline price spikes, Consumer Watchdog issued a report finding that California oil refiners have about half as much gasoline on hand than the rest of America, creating a volatile market that leads to gasoline price spikes. The report, “Price Spiked: How Oil Refiners Gouge Californians On Their Gasoline and What It Costs,” showed that Californians paid $550 million extra for their gasoline in February compared to drivers nationwide by calculating the difference between US and state prices and allotting for consumption.

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