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pj2becca21
Does obama really want to lose the Election in Cali ( pic) another update page 4
October 4, 2012 at 7:00 PM

So if you live in cali and you got gas, listen to the news, or watch it today; gas prices have gone up $.50 Since yestarday...... yestarday i drove by the gas station it was &3.99 and to day when i got gas at the same station  it was $4.49 ...... wtf!!!!!!! I put $20 in my tank ( i only had $30 in the bank and $8 for a monthly fee) and i Only got 3.45 gallons!!!!

well here is the reason why 

(Updates California spot prices in fourth paragraph, Nymex futures in fifth paragraph.)


Oct. 4 (Bloomberg) -- Gasoline station owners in the Los Angeles area including Costco Wholesale Corp. are beginning to shut pumps because of supply shortages that have driven wholesale fuel prices to record highs.

Costco’s outlet in Simi Valley, 40 miles (64 kilometers) northwest of Los Angeles, ran out of regular gasoline yesterday and was selling premium fuel at the price of regular, Jeff Cole, Costco’s vice president of gasoline, said by telephone. The company hasn’t been able to find enough unbranded summer-grade gasoline to keep its stations supplied, he said.

The gasoline shortage “feels like a hurricane to me, but it’s the West Coast,” Cole said yesterday. “We’re obviously extremely disheartened that we are unable to do this, and we’re pulling fuel from all corners of California to fix this.”

Spot, or wholesale, gasoline in Los Angeles climbed 30 cents to $1.45 a gallon over gasoline futures traded on the New York Mercantile Exchange, data compiled by Bloomberg show. That’s the highest level for the fuel since at least November 2007, when Bloomberg began publishing prices there. The premium has surged $1 this week. On an outright basis, the fuel jumped to $4.3396 a gallon.


Prices Jump


Gasoline at the pump gained 8.3 cents to $4.315 a gallon in California yesterday, according to AAA.com, 53.1 cents more than the national average of $3.784. In Los Angeles the price was $4.347. Gasoline futures for November delivery on the Nymex rose 11.15 cents to $2.911 a gallon at 1:35 p.m. today, after falling yesterday to a 10-week low. Retail price movements tend to lag behind those of futures.

Low-P, a gasoline station in Calabasas, California, 30 miles west of Los Angeles, stopped selling unleaded gasoline Oct. 2 and ran out of high-octane and medium-octane fuel yesterday, John Ravi, the station’s owner, said by phone yesterday. Ravi said he posted an “Out of Gasoline” sign on each pump and took down the prices outside his shop.

“I can get gas, but it’s going to cost me $4.90 a gallon, and I can’t sell it here for $5,” Ravi said. “If you come here right now, I’ve got some diesel left. That’s all. My market is open, but no gas.”

A Chevron Corp. oil pipeline shut down last month, an Oct. 1 power failure at Exxon Mobil Corp.’s Torrance refinery and units down at other plants have cut supplies in the market.

Spot California-blend gasoline, or Carbob, in San Francisco surged 30 cents to $1.40 a gallon over futures, also the highest level since at least 2007, at 1:12 p.m. New York time.


‘Not Worth It’


“We’re going to start shutting pumps Friday,” Sam Krikorian, owner of Quality Auto Repair in North Hollywood, said by phone yesterday. “Gas is costing me almost $4.75 a gallon with taxes. There’s no sense in staying open. The profit margins are so low it’s not worth it.”

Exxon’s 150,000-barrel-a-day Torrance refinery may flare gases for a week as it restores production after a power failure that shut some units and slowed output from others, Gesuina Paras, an Exxon spokeswoman in Torrance, said by e-mail Oct. 2.

Chevron’s Kettleman-Los Medanos pipeline, which carries crude from Kern County to Northern California refineries operated by Royal Dutch Shell PlcTesoro Corp. and Valero Energy Corp., remained shut after elevated levels of organic chloride were detected in the oil.

Phillips 66 is also scheduled to perform maintenance on process units at its Rodeo and Los Angeles refineries this month, people familiar with the schedules said.

Chevron’s 240,000-barrel-a-day Richmond plant, the largest refinery in Northern California, has been running at reduced capacity since a fire Aug. 6.


’Squeeze is On’



Read more: http://www.sfgate.com/business/bloomberg/article/California-Gas-Stations-Begin-to-Shut-on-3919421.php#ixzz28NFKjQYJ



Replies

  • trippyhippy
    October 4, 2012 at 7:01 PM

    WTF does Obama have to do with gas prices in Cali?  Did he start the refinery fire?

  • ReadWriteLuv
    October 4, 2012 at 7:04 PM
    The President has little to nothing to do with gas prices.

    In fact, the President really has little to do with the majority of the issues we face on a day to day basis.
  • gsprofval
    October 4, 2012 at 7:07 PM

    The president does have a say in the price of gas. He has not allowed for offshore drilling or fracking. He has implemented so many regulations via executive orders that it's almost impossible to even get U.S. oil any more.

     

  • broncfan
    October 4, 2012 at 7:07 PM
    Sucks to be Obama when people need to drive. He really does not have much if anything to do with gas prices but still sucks to be him. ; )
  • jaxTheMomm
    October 4, 2012 at 7:07 PM

    So, there was a fire at one refinery, elevated levels of chloride were found at another, and a power failure at a third.

    Just what do you think the POTUS can do about this?

  • jaxTheMomm
    October 4, 2012 at 7:08 PM

    He does not have a say in the price of gas - that's OPEC and the worldwide mraket. 

    BTW, fracking produces natural gas, not oil.

    Quoting gsprofval:

    The president does have a say in the price of gas. He has not allowed for offshore drilling or fracking. He has implemented so many regulations via executive orders that it's almost impossible to even get U.S. oil any more.

     


  • ReadWriteLuv
    October 4, 2012 at 7:09 PM
    So he, and he alone is the reason for gas prices? He and he alone won't allow for off shore drilling? He and he alone could sign orders to open the pipelines and increase production?

    Nope. Doesn't work that way.


    Quoting gsprofval:

    The president does have a say in the price of gas. He has not allowed for offshore drilling or fracking. He has implemented so many regulations via executive orders that it's almost impossible to even get U.S. oil any more.


     

  • pj2becca21
    October 4, 2012 at 7:10 PM

    He stopped the keystone pipe line which would be helpful right know. he wont let San Onfra open back up, Continusely close refiners. And has his head ing the clouds about his damn "green energy" bullshit. and that damn Volt car that cost $35,000 and if the battery dies in it is $5000. so yes it his fault and plus it's 33 days till election!!! It's not looking good for him 

    Quoting trippyhippy:

    WTF does Obama have to do with gas prices in Cali?  Did he start the refinery fire?


  • ReadWriteLuv
    October 4, 2012 at 7:16 PM
    Green energy isn't bullshit. Oil is a non-renewable resource, gotta come up with something for our grandchildren.

    The pipeline could open and oil could flow like black, sticky wine. Doesn't matter, the gas prices would still remain the same because of the cost to refine it and ship it. I have a refinery 10 miles from my house. We pay $4.05 a gallon because the gas that is refined there doesn't go to any of our stations, it's shipped to California by tankers.

    There is a fabulous documentary made about a decade ago titled "Who Killed the Electric Car?". I suggest everyone see it.


    Quoting pj2becca21:

    He stopped the keystone pipe line which would be helpful right know. he wont let San Onfra open back up, Continusely close refiners. And has his head ing the clouds about his damn "green energy" bullshit. and that damn Volt car that cost $35,000 and if the battery dies in it is $5000. so yes it his fault and plus it's 33 days till election!!! It's not looking good for him 

    Quoting trippyhippy:

    WTF does Obama have to do with gas prices in Cali?  Did he start the refinery fire?


  • imamomzilla
    October 4, 2012 at 7:17 PM

     OUCH! It's $3.99 /gal here. Grr

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