Tag Archive | "oil watchdog"

Tesoro & Valero Report Best 3rd Quarter Ever For California Refining On Record Gasoline Price Spike

Thursday, October 29, 2015

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Tesoro & Valero Report Best 3rd Quarter Ever For California Refining On Record Gasoline Price Spike

Santa Monica, CA – The two California refiners that break out California-specific profits today reported their most lucrative California quarters ever. Tesoro’s & Valero’s quarterly reports for July through September help explain why Californians have paid a dollar per gallon over the US average during 2015, Consumer Watchdog said today. The company more than tripled its per barrel profits.

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Excessive CA Gas Prices Fuel Best Refining Profits Ever For Valero, 14X More Than Same Quarter Last Year

Wednesday, October 28, 2015

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Excessive CA Gas Prices Fuel Best Refining Profits Ever For Valero, 14X More Than Same Quarter Last Year

Santa Monica, CA – California’s 4th largest oil refiner reported today that it made its highest profits ever on oil refining in California this summer. Consumer Watchdog said the investor reports prove that the state’s excessive gasoline prices, which were a dollar more than the US average this summer, were pure profit for the refining industry and unreasonable.

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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

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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.

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Big Oil Gives CA Energy Commission Finger, Refuses To Testify Tomorrow On $6 Billion Consumer Gas Gouge

Monday, October 12, 2015

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Big Oil Gives CA Energy Commission Finger, Refuses To Testify Tomorrow On $6 Billion Consumer Gas Gouge

Santa Monica, CA — The oil industry is refusing to produce a single representative to answer questions tomorrow on gasoline supplies and possible manipulation of gasoline prices before advisors to the California Energy Commission, Consumer Watchdog said today. It’s the second rebuff to government. Last March, no oil industry representative was produced to testify before the California Senate on the same issue.

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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

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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.

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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

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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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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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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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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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