California gas prices jump as Iran conflict impacts fuel markets, AAA says [CBS News]
Phillips 66 (PSX)
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Source: CBS News
Drivers across California are feeling the impact of soaring gas prices in what feels like overnight. "I commute for work, back and forth to the Bay Area a few times a week... It really adds up quickly," driver Neil McElroy said in San Joaquin County. As of Monday, prices statewide were up 5 cents from Sunday and 55 cents from a week ago. AAA says California drivers have it particularly tough. "This is coming at a really bad time for California," Northern California AAA spokesperson Doug Johnson explained. "We're transitioning from the winter blend, which is cheaper to produce, into the summer blend that has more additives and cleans so it burns cleaner in the summer months." On top of this, two refineries in California are closing. The Phillips 66 in Southern California has already shut down, and Valero in Benicia is set to close next month. This stark jump in gas prices, however, has happened before. As recently as 2022, when Russia invaded Ukraine, it caused the statewide
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PSX
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PSX
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- 3/17/26 - Form 4
- 3/17/26 - Form 4
- 3/16/26 - Form 4
- PSX's page on the SEC website