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California gas prices shot up $0.17/gallon overnight, prompting some stations to close and...

California gas prices shot up $0.17/gallon overnight, prompting some stations to close and others to charge more than $5/gallon. Production disruptions linger at local Chevron (CVX) and Exxon (XOM) refineries; Valero (VLO) stopped spot sales in SoCal, and XOM is rationing to buyers at West Coast terminals. Average gas prices across the state are nearly $4.49/gallon, highest in the U.S.
Comments (9)
  • azblackbird
    , contributor
    Comments (358) | Send Message
     
    We all know how CA supposedly sets the national trend on many things... this is just a picture of things to come. Call it a test. The sheeple handlers want to see just how out of control the average sheep would become, when faced with a gas... or soon to be food shortage. Me thinks this coming year is going to be very interesting.
    5 Oct 2012, 04:26 PM Reply Like
  • gensearch2
    , contributor
    Comments (1467) | Send Message
     
    Gas has hit $5/gallon and the sheep didn't squawk much. Refineries have been shutting down all over the country. The east coast was threatened with a 50% cut in supply. It's not a shortage of oil. It's a shortage of the refineries willing to provide supply.

     

    Look at the news at the end of last year ...

     

    http://usat.ly/yStUOT
    5 Oct 2012, 06:49 PM Reply Like
  • Aristiphones
    , contributor
    Comments (1327) | Send Message
     
    well then those same refiners can go bankrupt then. no product means no sales...no sales mean no money. just how much ethanol and alternative energy can pick up the slack remains to be seen...but gasoline demand is lower now than it was in 1996! in other words "are you sure you want to find gasoline company?"
    5 Oct 2012, 10:46 PM Reply Like
  • chopchop0
    , contributor
    Comments (3535) | Send Message
     
    California is the only state with those silly gasoline requirements that screw over refiners and consumers
    5 Oct 2012, 11:11 PM Reply Like
  • bill d
    , contributor
    Comments (1905) | Send Message
     
    Just stop buying at Valero stations.
    5 Oct 2012, 06:28 PM Reply Like
  • haruglory12
    , contributor
    Comments (54) | Send Message
     
    The great state of Confusion and Americas land of Fruit and Nuts.
    5 Oct 2012, 11:51 PM Reply Like
  • Sejd213
    , contributor
    Comments (190) | Send Message
     
    No need to blame VLO for this incident. It`s the state of Calif that is responsible for this mess.
    7 Oct 2012, 12:17 AM Reply Like
  • bbro
    , contributor
    Comments (9851) | Send Message
     
    I guess this means California goes for Romney now...
    7 Oct 2012, 04:33 AM Reply Like
  • samshukla
    , contributor
    Comments (3) | Send Message
     
    I don't get it why VLO has to stop selling in spot market? here in Ontario VLO stations are selling 10c/lit. below cost for over a year now, why can't they do that in Cali?
    9 Oct 2012, 09:57 AM Reply Like
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