October 3, 2012
REFINERY PROBLEMS SEND CALIFORNIA GAS PRICES SKYROCKETING:
When Errol Emrich drove by a Shell station in his San Jose neighborhood last weekend, regular gas was selling for $4.05 a gallon.
On Monday, it was $4.15. On Tuesday, $4.25. And this weekend? Analysts say it could reach a whopping $4.40.
Problems at California refineries have slashed supplies across the state, cutting fuel production and raising wholesale prices — the price stations pay for their gasoline — by as much as 73 cents, to levels not seen since 2007.
And that almost certainly will boost prices at the pump again soon.
“California gasoline prices may surge in the next five days, perhaps to levels higher than February’s $4.33-a-gallon average,” said Patrick DeHaan, an analyst with Gasbuddy.com. “It is within the realm of possibility that average prices reach near $4.40 or even higher if the situation worsens.”
Under my plan, energy prices will necessarily skyrocket…