Refinery fire could kick up gas prices by 30 cents a gallon
Source: Los Angeles Times
The fire at Chevron Corp.’s Richmond oil refinery is having an immediate impact on spot prices for the state's expensive blend of unfinished gasoline, sending them higher by as much as 30 cents a gallon over what it cost a day earlier, according to fuel price experts. A similar rise in retail prices should follow quickly, the experts said, but for how long was unclear.
... Chevron's 110-year-old Richmond refinery is one of 21 in California, according to the state's Energy Commission, but only 14 of those make CARBOB gasoline, which is the nation's most expensive blend. Among those, the Richmond refinery is one of the most important, ranking third in production with a capacity of just under 243,000 barrels a day.
Bob van der Valk, a fuel price specialist, said the Richmond facility was particularly important for Southern California, even though it is in the Bay Area. Van der Valk said it supplies gasoline to the Los Angeles area as well as to customers in the Pacific Northwest.
"From the look of things, it's going to be out of service for some time," said Van der Valk, who worked as a pricing manager for Unocal before it merged with Chevron in 2005.
Read more: http://www.latimes.com/business/money/la-fi-mo-refinery-gas-prices-20120807,0,2606592.story
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