Reported 2 days ago
California's fuel market is facing increased challenges as new legislation and weak refining margins come into play. The U.S. Energy Information Administration (EIA) notes that California's geographical isolation leads to high gas prices and dependence on imported fuels as local refineries struggle with profitability. Recent laws require refiners to maintain minimum fuel inventory levels, giving regulators more oversight, while Phillips 66 plans to close a major refinery due to market dynamics.
Source: YAHOO