California's rising gas prices result from a grossly manipulated fuel marketplace

Jason Weisberger 11:00 am Mon Jul 20, 2015

Gasoline prices at a 76 gas station are displayed in Encinitas, California, February 19, 2013.
REUTERS/Mike Blake

Santa Monica based Consumer Watchdog shares their analysis of California's grossly manipulated gasoline marketplace.

California oil refiners, who have made a political agreement to undermine state environmental laws through claims of high gasoline prices, have used every trick in their playbook to raise gasoline prices artificially this year. They exported unprecedented amounts of finished gasoline to dry up the market, took down an unprecedented number of refineries offline in spring/summer drive time, and have propped up prices through manipulation of their price leverage at branded stations by 30 to 40 cents.

gas-pump

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