Governor Proposes Oil Refiners Maintain Gasoline Reserves to Prevent Price Spikes ...Middle East

Times of San Diego - News
Governor Proposes Oil Refiners Maintain Gasoline Reserves to Prevent Price Spikes
Storage tanks at Marathon Petroleum’s Los Angeles Refinery, which processes domestic and imported crude oil into gasoline for California. REUTERS/Bing Guan Gov. Gavin Newsom has proposed a new requirement that oil refiners maintain minimum reserves of gasoline in an effort to prevent price spikes. The California Energy Commission said that on 63 days last year California refiners maintained less than 15 days of supply of gasoline, a situation that it said spiked prices and cost drivers $650 million. “Price spikes at the pump are profit spikes for Big Oil. Refiners should be required to plan ahead and backfill supplies to keep prices stable, instead of playing games to earn even mo

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