California Focus: Oil and gas costing us even more than we thought ...Middle East

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The idea that oil companies and gasoline refiners could gouge Californians – and other Americans to a lesser degree – by as much as 100 percent of the previous price of gasoline seemed utterly preposterous until February. That’s when President Biden slapped an embargo on Russian oil, depriving California refineries of between 2 percent and 3 percent of the supplies they had been using. Average pump prices instantly rose from $4.70 per gallon across the state to above $6. Later, in some places, prices even topped $9 per gallon, about twice their price just six months ago. That’s gouging, pure and simple. Yes, the worldwide price of oil was up, but not in anywhere near such large proportions.

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Last updated : 16 August 2022 clock 06:04 PM

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