Chevron Corp. posted a 41 percent gain in net income for the fourth quarter as the company produced more oil and gas, improved the performance of its refinery business and realized a gain from swapping assets in an Australian natural gas field.
Sen. Mark Leno said Wednesday that recent price spikes and shortages "indicate serious problems" with the state's 15 refineries. The San Francisco Democrat is chairman of the Senate Select Committee on Bay Area Transportation.
California gas prices continued surging Friday, adding another 17 cents per gallon on average, and the increases are expected to continue for at least several more days, ensuring long lines and short tempers at pumps around the state.
Californians woke up to a shock Friday as overnight gasoline prices jumped by as much as 20 cents a gallon in some areas, ending a week of soaring costs that saw some stations close and others charge record prices.
The rise is being blamed on this week's fire at one of the largest refineries in the nation. It's also only one of about a dozen refineries that produces California’s special blend of gas, so get ready for a price bump at the pump.
A fire at one of the nation's largest oil refineries helped push West Coast gas prices close to $4 a gallon Thursday, as the same federal team that investigated the Gulf Coast spill waited to inspect the unit that was knocked out by the blaze.
The West Coast is particularly vulnerable to spikes in gasoline prices because it's not well-connected to the refineries along the Gulf Coast, where most of the country's refining capacity is located, analysts say.
A major fire at one of the country's biggest oil refineries that sent scores of people to hospitals with breathing problems will push gas prices above $4 a gallon on the West Coast, analysts said Tuesday.
A fire at one of the nation's largest refineries spewed thick black smoke over cities in the San Francisco Bay area, sending scores of residents to hospitals complaining of breathing problems early Tuesday.