Tag Archive | "manipulation"

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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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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ALERT: California Gas Prices Up More Than 50 Cents Since Tesoro Martinez Refinery Shutdown, Consumer Watchdog Calls For Legislative Hearings into Price Manipulation

Monday, February 23, 2015

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ALERT: California Gas Prices Up More Than 50 Cents Since Tesoro Martinez Refinery Shutdown, Consumer Watchdog Calls For Legislative Hearings into Price Manipulation

Santa Monica, CA – Consumer Watchdog said today that the retail price per gallon of gas in California has soared 53 cents between February 2, when Tesoro began shutting down its refinery in Martinez, through today. A regular gallon of California gasoline now costs an average of $2.96 a gallon.

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ALERT: Los Angeles Gas Spot Price Rises A Quarter Since Tuesday’s Refinery Fire, Consumer Watchdog Continues Call For Investigation Into Price Manipulation

Friday, February 20, 2015

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ALERT: Los Angeles Gas Spot Price Rises A Quarter Since Tuesday’s Refinery Fire, Consumer Watchdog Continues Call For Investigation Into Price Manipulation

Santa Monica, CA – Consumer Watchdog announced today that spot gas prices in Los Angeles have risen 25 cents since Tuesday when an explosion rocked Exxon’s Torrance refinery, according to the Energy Information Administration. Paired with Tesoro’s Martinez facility that is also shut down, 16.5% of California’s refinery capacity is affected.

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Price Of Gas Up A Dime, State Investigators Still Mum On Consumer Watchdog Request To Rule Out Refinery Price Manipulation

Thursday, February 19, 2015

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Price Of Gas Up A Dime, State Investigators Still Mum On Consumer Watchdog Request To Rule Out Refinery Price Manipulation

Santa Monica, CA -- Consumer Watchdog said today that the spot price of gas leapt a dime overnight, as the group had predicted in the wake of two refinery shutdowns affecting 16 percent of the state’s refining capacity.

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Something Stinks and It’s Refineries

Wednesday, February 18, 2015

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Something Stinks and It’s Refineries

Today’s explosion at the Torrance refinery couldn’t come at a better time—for refiners interested in driving up the price of gas. That’s why we are calling for the California Attorney General, Governor, and lawmakers to step in. We want the Attorney General to send in some boots on the ground to rule out any price manipulation by Tesoro when it shut down its Martinez refinery. We also want to know what first caused Exxon to tell one observer that its Torrance refinery would be offline for two weeks due to a mechanical problem, and then what caused an explosion at the refinery today.

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Two Refineries Down, Gas Prices Up: Consumer Watchdog Calls For On-Site Inspections To Investigate Price Manipulation

Wednesday, February 18, 2015

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Two Refineries Down, Gas Prices Up: Consumer Watchdog Calls For On-Site Inspections To Investigate Price Manipulation

Santa Monica, CA—Responding to a shutdown of two refineries that produce 16 percent of the state’s gasoline, Consumer Watchdog called on state officials to send independent inspectors to verify refinery claims that the shutdowns were really necessary.

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