Wilmington refinery fire drives up gas prices

[steven johnson]

Source: Los Angeles Times

A three-hour fire at the Tesoro oil refinery in Wilmington pushed wholesale gasoline prices up almost 21 cents a gallon Friday. Retail prices were expected to rise by a nickel or more in the coming days, depending on the amount of damage at the facility and the production declines that could result.

As of Friday afternoon, the severity of the fire was still being assessed and the refinery was operating at reduced levels, Tesoro officials said.

"Before this fire, the price was about to drop like a rock," said Tom Kloza, chief oil analyst for the Oil Price Information Service in New Jersey. Kloza said the Wilmington incident and a smaller fire at a Chevron refinery in Richmond in the Bay Area were particularly ill-timed for California consumers.

"Instead of falling sharply, the price will go back up," Kloza said.


Read more: http://www.latimes.com/business/la-fi-gas26-2009sep26,0,2213043.story

[CaliforniaPeggy]

1. Oh, great.

Hopefully the increase will be short-lived.

[tularetom]

2. "ill-timed for California consumers."

But spectacularly well-timed for the oil companies, huh?

Summer is over, demand is down, gotta do something to keep those prices up.

Quite a coinkydink how these fires always seem to occur at times of the year like this, when price drops can almost be predicted.

[Hawkeye-X]

3. Yeah, I was starting to see the price drop from $2.36 to $2.14

I'll wait to see the end results of the fire.

[regnaD kciN]

9. Wow...that's cheap...

Up here in Washington state, the price for unleaded regular is around $2.75-$2.99.

[notadmblnd]

4. convenient, isn't it?

[ensho]

8. kick

nt

[Downwinder]

5. Is there a shortage -- again?

Funny how the much touted theories of "supply and demand" have fallen apart.

[excess_3]

6. special gas --> special price .n/t

[fasttense]

7. It's so easy to control prices when you control the whole thing.

Monopolies, bring you ever spiraling costs and ever spiraling poverty.

[excess_3]

10. California is a gasoline island

it sits at the end of the line,
and requires a unique product.