Tag Archive | "gas prices"

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

Friday, May 8, 2015

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

Tuesday, May 5, 2015

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

Thursday, April 30, 2015

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

Tuesday, April 28, 2015

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

Thursday, April 9, 2015

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

Tuesday, April 7, 2015

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

Tuesday, March 31, 2015

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

Tuesday, March 24, 2015

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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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Exxon Misrepresents Torrance Refinery Safety Record and Explosion’s Effect on Gas Prices to Lawmakers at Town Hall Hearing, Consumer Watchdog Says

Tuesday, March 10, 2015

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Exxon Misrepresents Torrance Refinery Safety Record and Explosion’s Effect on Gas Prices to Lawmakers at Town Hall Hearing, Consumer Watchdog Says

Santa Monica, CA —Exxon misrepresented its safety record at its Torrance refinery to lawmakers at a public hearing at Torrance City Hall last week, suggesting its February 18 explosion and fire was unique, and did not acknowledge how extensively the blast damaged its ability to supply gasoline, Consumer Watchdog said today.

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Los Angeles Sees Highest Gas Price Spike in State – $1.03 In One Month

Tuesday, March 3, 2015

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Los Angeles Sees Highest Gas Price Spike in State – $1.03 In One Month

Consumer Watchdog Calls For Increased Oil Reserves Santa Monica, CA – Consumer Watchdog today reiterated calls for an increase in the state’s oil reserves as Los Angeles gas prices jumped $1.03 cents in the last month, the highest in the state, according to AAA’s Fuel Gauge Report website. Los Angeles prices at the pump for regular gas have reached $3.53 per gallon, a dollar and nine cents, or 45% higher than the national average of $2.44 per gallon.

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Consumer Watchdog Urges Tough State Oversight of Gas Supply as California Drivers Face a One Buck a Month Price Spike

Monday, March 2, 2015

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Consumer Watchdog Urges Tough State Oversight of Gas Supply as California Drivers Face a One Buck a Month Price Spike

Santa Monica, CA -- Consumer Watchdog said today that prices per regular gallon of gas in California were up an unprecedented 96 cents in the last month, nearly triple the 38-cent increase per gallon nationwide.

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Senate Lawmakers to Hold Hearings on Possible Refinery Manipulation of Gas Prices Via Shutdowns and Slowdowns, Answering Call from Consumer Watchdog

Friday, February 27, 2015

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Senate Lawmakers to Hold Hearings on Possible Refinery Manipulation of Gas Prices Via Shutdowns and Slowdowns, Answering Call from Consumer Watchdog

California Gas Prices Up 70 Cents a Gallon at Pump Since February 1 Santa Monica, CA -- Consumer Watchdog said it looked forward to working with Senate lawmakers who today set hearings for March on possible refinery price manipulation, as the group had requested.

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ALERT: CA Refinery Profits Fatten On 60-Cent Gas Price Spike Since Shutdowns and Slowdowns

Wednesday, February 25, 2015

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ALERT: CA Refinery Profits Fatten On 60-Cent Gas Price Spike Since Shutdowns and Slowdowns

Santa Monica, CA—California refinery shutdowns and slowdowns are boosting refinery profit margins by as much as 72 percent, according to a key indicator called “crack spreads,” Consumer Watchdog said today.

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