Tag Archive | "Tesoro"

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

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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.

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Tesoro Reports Record California Profits After California Price Spike

Tuesday, February 2, 2016

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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.

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Refiners Chevron, Tesoro, and Valero Each Triple California Profits In First Nine Months To Highest Ever; Spike Mirrors Record Lobbying Spending

Thursday, November 19, 2015

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Refiners Chevron, Tesoro, and Valero Each Triple California Profits In First Nine Months To Highest Ever; Spike Mirrors Record Lobbying Spending

Santa Monica, CA – The three major refiners that provide detailed profit information reported their best ever year to date from oil refining in California. Each company at least tripled their average historical profits in the third quarter, according to Consumer Watchdog’s analysis released today.

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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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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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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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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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Consumer Watchdog Urges CA Attorney General and Regulators to Investigate Tesoro’s Martinez Refinery Shutdown to Rule Out Gasoline Price Manipulation

Friday, February 6, 2015

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Consumer Watchdog Urges CA Attorney General and Regulators to Investigate Tesoro’s Martinez Refinery Shutdown to Rule Out Gasoline Price Manipulation

Santa Monica, CA—Consumer Watchdog today sent a letter to California Attorney General Kamala Harris and Robert Weisenmiller, Chair of the California Energy Commission, asking that they investigate Tesoro’s decision to shut down its Martinez refinery indefinitely as steelworkers mount a national strike.

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