Why California could be contending with $5 gas next year [Yahoo! Finance]
Phillips 66 (PSX)
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Source: Yahoo! Finance
Refineries in the state have been closing for years with two more set to shutter soon: a Los Angeles-area refinery at the end of the month and a Bay Area one in April. Together, the two refineries provide about 17% of the state's supply of gasoline. California drivers already pay 50% more than the rest of the nation, about $4.32 per gallon. These closures could boost prices by another 50 cents, according to Andy Lipow, president of consulting firm Lipow Oil Associates. “The loss of the refineries are certainly going to result in California having much shorter gasoline supplies,” Lipow said. “The price of gasoline in California will rise on a sustained level, because it'll have to attract imported gasoline month in and month out.” The closures also risk widespread shortages if any of the remaining six refineries in California experience unplanned outages caused by fires or other accidents. Those risks are more pronounced if the outages extend for a prolonged period — like the re
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PSX
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- 10/29/25 - Beat
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- 12/18/25 - Form S-8
- 12/11/25 - Form 4
- 12/11/25 - Form 4
- PSX's page on the SEC website