Tag Archive | "oil refineries"

Consumer Watchdog Testifies That Refiners Continue to Get Rich on Inflated Gasoline Prices By Cutting Production To Reduce Supply

Tuesday, November 29, 2016

Comments Off on Consumer Watchdog Testifies That Refiners Continue to Get Rich on Inflated Gasoline Prices By Cutting Production To Reduce Supply

Consumer Watchdog Testifies That Refiners Continue to Get Rich on Inflated Gasoline Prices By Cutting Production To Reduce Supply

Santa Monica, CA – Advocates from Consumer Watchdog testified today at the California Energy Commission’s Petroleum Market Advisory Committee (PMAC) that California drivers are still paying 50 cents more than US drivers as oil refiners continue to reap double their historical profits.

Continue reading...

Consumer Watchdog Calls For Sunlight On Big Oil Refiners To Avert CA Gasoline Price Spikes; State Energy Commission Panel To Make Recommendations On Transparency For Refiners

Friday, April 22, 2016

Comments Off on Consumer Watchdog Calls For Sunlight On Big Oil Refiners To Avert CA Gasoline Price Spikes; State Energy Commission Panel To Make Recommendations On Transparency For Refiners

Consumer Watchdog Calls For Sunlight On Big Oil Refiners To Avert CA Gasoline Price Spikes; State Energy Commission Panel To Make Recommendations On Transparency For Refiners

Sacramento, CA -- Consumer Watchdog told a state panel looking into gasoline price manipulation today that a handful of big oil refiners have been able to charge California drivers 70 cents to $1 more per gallon than the rest of America because they have an information advantage over the rest of the market, the public and regulators.

Continue reading...

Consumer Watchdog Tells So Cal Drivers Fill Up Now, Gas Prices To Rise Quickly As Major Refiners Switch to Summer Blend And Raise Prices On Their Dealers By 37 Cents Over Night

Thursday, February 25, 2016

Comments Off on Consumer Watchdog Tells So Cal Drivers Fill Up Now, Gas Prices To Rise Quickly As Major Refiners Switch to Summer Blend And Raise Prices On Their Dealers By 37 Cents Over Night

Consumer Watchdog Tells So Cal Drivers Fill Up Now, Gas Prices To Rise Quickly As Major Refiners Switch to Summer Blend And Raise Prices On Their Dealers By 37 Cents Over Night

Los Angeles, CA -- The nonprofit group Consumer Watchdog today warned Southern California drivers that they would be facing sticker shock at their gasoline pumps beginning this weekend as the state’s biggest oil refiners raised wholesale prices charged to station owners by 37 cents.

Continue reading...

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

Monday, February 8, 2016

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

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

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...

Tesoro Reports Record California Profits After California Price Spike

Tuesday, February 2, 2016

Comments Off on Tesoro Reports Record California Profits After California Price Spike

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...

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

Friday, January 29, 2016

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

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...

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

Thursday, January 28, 2016

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

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...

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

Wednesday, December 16, 2015

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

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...

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

Tuesday, October 13, 2015

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

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...

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

Wednesday, September 30, 2015

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

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...

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

Thursday, September 3, 2015

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

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...

Tesoro Reports Record California Profits After California Price Spike

Wednesday, August 5, 2015

Comments Off on Tesoro Reports Record California Profits After California Price Spike

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.

Continue reading...

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

Wednesday, August 5, 2015

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

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.

Continue reading...