Californian drivers, who have paid an average of 74 cents more per gallon at the pump than drivers nationwide, have shelled out $4.5 billion more for their gasoline than US drivers from February to June, Consumer Watchdog said today.
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Archive | Tag: holding big oil accountable
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Consumer Watchdog Presents Evidence To Attorney General & State Of Oil Refiners’ Unprecedented Market Manipulation To Artificially Raise Gas Prices; Companies May Have Violated Previous Agreements & Anti-trust Law
At a meeting of the state commission charged with investigating gas price manipulation, Consumer Watchdog delivered an analysis showing that since the end of May California’s largest oil refiners have engaged in unprecedented price manipulation to keep California gasoline prices artificially high using their leverage of over prices at their branded stations.
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Tesoro CEO Admits Refinery “Disruption” and Shutdowns = Big Profits, Echoing Chevron Statements About Pump Spike
Santa Monica, CA — On a call with investors today, Gregory Goff, the CEO of Tesoro admitted refinery shutdowns and “disruptions” led to big profits on the oil company’s bottom line in the first quarter. Tesoro’s profit per barrel in the first quarter jumped by 20 cents, amounting to California profits of $119 million in the first quarter for the company.
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New Report: Oil Refiners’ Profits Spike With Gasoline Price Spikes
San Francisco, CA — Consumer Watchdog published a new report today, “Refining Profits: How Californians Get Fleeced At The Pump,” showing that oil refiners have made large profits from gasoline price spikes recently and over the last decade. The report reviewed ten years of publicly available profit data.
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ALERT: California Gas Prices Up 37 Cents This Week; A Buck Over National Average, Driven By Refiner Shortages and Outages
Refiners Remain Silent Because Law Does Not Require them to Disclose Information
Santa Monica, CA—The price of a gallon of regular gas in California spiked up another 40 cents this week and now stands at $3.59 a gallon at the pump due to fresh problems refineries have tried to conceal, Consumer Watchdog said today. Californians are now paying exactly a dollar more than the US average.
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California Gasoline Prices Spike 28 Cents In One Week, 89 Cents More Than USA; Consumer Watchdog Calls On CEOs For Answers
Santa Monica, CA – Consumer Watchdog today said that a price spike of 28 cents per gallon at the pump over the last week was likely caused by a refinery outage or other refinery problems that the public is not privy to, and called on the California Senate to act.
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Californians Paid $1 Billion Extra for Their Gasoline Over National Average in March
Santa Monica, CA — California drivers paid $1 billion extra at the pump in March, when compared to the national average gas price charged to U.S. drivers, according to an analysis of the latest government…
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Consumer Watchdog Says California Petroleum Reduction Targets Needed To Stop Oil Company Price Gouging
Santa Monica, CA — The nonprofit group Consumer Watchdog said that California legislation being debated today to cut petroleum demand in half will radically reduce the price of fuel in California.
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Tom Steyer and Consumer Watchdog Call On Legislators To Make Oil Company Executives Answer For February’s $550 Million Gas Price Spike
Santa Monica, CA — Business leader, philanthropist and climate activist Tom Steyer and Consumer Watchdog President Jamie Court asked California lawmakers to subpoena oil industry executives to explain why California’s gasoline market is structured for shortages and volatility. The executives declined to testify at a March 24 hearing before a joint Senate Committee hearing into February’s dollar-a-gallon price spike at the pump.
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Californians Paid $550 Million Extra During February’s Gasoline Price Spike; Watchdog Report Finds Low Inventories & Profiteering Drive Gasoline Price Spikes
Santa Monica, CA — At a California State Senate hearing on February gasoline price spikes, Consumer Watchdog issued a report finding that California oil refiners have about half as much gasoline on hand than the rest of America, creating a volatile market that leads to gasoline price spikes. The report, “Price Spiked: How Oil Refiners Gouge Californians On Their Gasoline and What It Costs,” showed that Californians paid $550 million extra for their gasoline in February compared to drivers nationwide by calculating the difference between US and state prices and allotting for consumption.