August 17, 2012 |
The rapid rise in gasoline prices, sparked by a refinery fire last week, has slowed and may have peaked, according to the Automobile Club of Southern California. Since the fire at Chevron Corp.'s Richmond Refinery in the Bay Area on Aug. 6, the average retail price of a gallon of regular gasoline in California has shot up 25.8 cents. At one point, it jumped 5 cents overnight. Although part of the refinery damaged by the fire is still shut down, the rise in prices has cooled. "Southern California gas prices have actually only risen by about 2 cents since Sunday, and most of the week-to-week increase occurred last Friday and Saturday," Auto Club spokesman Jeffrey Spring said.
August 17, 2012
Re "Chevron's refinery, Richmond's peril," Opinion, Aug. 14 Every person who intends to vote in the upcoming election or in any other contest should read Antonia Juhasz's Op-Ed article about the Chevron refinery fire in Richmond, Calif. This and other disasters, including the financial meltdown on Wall Street and the mortgage crisis, could have been averted with stronger regulations and oversight. One of the strongest rallying cries of candidates running for public office from the Republican Party is that we have too many regulations.
August 16, 2012 |
The Automobile Club of Southern California says that the recent refinery fire-related fuel price rise may have peaked, for now. The Aug. 6 blaze at Chevron Corp.'s Richmond refinery has left the plant operating at less than full capacity. Gasoline prices quickly jumped by 25 cents a gallon or more just days after the incident, but the Auto Club says that the rate of that increase has already slowed. “Southern California gas prices have actually only risen by about 2 cents since Sunday, and most of the week-to-week increase occurred last Friday and Saturday,” said Auto Club spokesperson Jeffrey Spring.
August 14, 2012 |
Texas oil giant Tesoro Corp. said it will spend $2.5 billion to buy a sprawling refinery in Carson and other assets -- including the Arco brand -- from rival BP. The move would leave most of California's gasoline production in the hands of just two companies: Tesoro and Chevron Corp. The deal would greatly boost Tesoro's presence in the region. The San Antonio company already has agreements with more than 1,200 stations nationwide that sell its gas under the Shell, USA Gasoline and Tesoro brands.
August 14, 2012 |
Stay inside, close your windows and doors, and turn off air conditioning and heating units. Pets and all children in sporting activities should be brought inside, and have duct tape ready should you need to further seal windows and doors. These are among the "shelter in place" warnings made to Bay Area residents last week in response to a massive fire at the Chevron Corp. refinery in Richmond. The fire burned out of control for more than five hours, sending a giant black cloud of toxic chemicals, including sulfur dioxide and nitrogen oxide, thousands of feet into the air and out across the bay. While automated calls went to more than 18,000 people, some 160,000 residents live in the areas directly affected by the warning.
August 10, 2012 |
In what was seen as a reaction to a fire at a major oil refinery in Northern California, pump prices for regular gasoline statewide rose more than a nickel a gallon from Wednesday to Thursday, according to the Automobile Club of Southern California. Price jumps of more than 2 cents in a 24-hour period are uncommon. Auto Club spokesman Jeffrey Spring said the fire at Chevron Corp.'s sprawling Richmond refinery "had an immediate effect on the wholesale gasoline market. Although the refinery is on the shore of San Rafael Bay, north of San Francisco and Oakland, it's an important fuel provider for Southern California.
August 9, 2012 |
The expected run-up in gasoline prices after a major fire at a Bay Area refinery may not come as quickly as expected, but it's coming. What isn't known at this point, analysts said, is how bad it will get. The market is waiting forChevron Corp.to report on the severity of the damage to its 2,900-acre refinery in Richmond, Calif., which opened in 1902. Chevron said Wednesday that the refinery, which was shut down because of the fire at one of its units, was now partially operating.
August 8, 2012 |
RICHMOND, Calif. - California gasoline prices could surge at least 35 cents a gallon this week as fire damage is assessed at the huge Chevron Corp. refinery here, raising fresh concerns about the toll on consumers coping with a tepid economic recovery. "It could get very ugly, very fast," said Patrick DeHaan, senior petroleum analyst for the price-watch websites run by GasBuddy.com. A long-term shutdown could be extremely expensive for drivers, he said. He pointed to a February blaze at a BP refinery in Washington state that left the plant out of commission until May and caused Pacific Northwest gasoline prices to increase about 70 cents to $4.40 a gallon.
August 7, 2012
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. About the only good news was the fact that just a few minor injuries were reported, in spite of what appeared to be an intense blaze that was visible for miles.
August 7, 2012 |
A combination of refinery outages and oil pipeline spills in Wisconsin, Indiana and Illinois helped drive the U.S. average for a gallon of regular gasoline up 13.7 cents over the last week to $3.645 on Monday, an Energy Department survey showed. The California average rose 6.6 cents to $3.868 a gallon, leaving the state in the rare position of having cheaper gasoline than many parts of the Midwest. The surge in the U.S. average started with ruptures in petroleum pipelines that served the Green Bay, Wis., and Chicago areas.