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[Spam] California 'at a breaking point' lawmaker cries, as gas prices surge again after more refinery closures

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California’s fuel market is entering another period of strain as
refinery capacity continues to shrink in the nation’s largest gasoline
market. The planned closure of Valero’s Benicia refinery, one of the
state’s remaining major facilities, is expected to tighten supply in a
system that already operates with little margin for disruption. 

FOX Business’ Jeff Flock joined Maria Bartiromo on “Mornings with Maria”
to report on how the pending refinery shutdown is fueling concerns about
higher gas prices, job losses and increased volatility across
California’s fuel market. 

That tightening supply has already translated into higher prices and
growing uncertainty for drivers, according to California lawmakers, who
warn the situation is no longer theoretical. 

“California is truly at a breaking point. Refineries are closing, supply
is diminishing, and my constituents are paying more at the pump every
single day,” Republican state Sen. Suzette Martinez Valladares said. 

The Benicia facility, located in Northern California, has played a
significant role in supplying gasoline to a state that consumes more
fuel than any other except Texas. Its closure follows a wave of refinery
exits that has steadily reduced California’s ability to produce its own
gasoline, leaving the state increasingly dependent on a small number of
remaining plants and imported fuel that must meet its unique regulatory
standards. 

With fewer refineries operating, even routine maintenance or unexpected
outages can quickly ripple through prices at the pump. 

State lawmakers have increasingly pointed to energy policy as a central
factor behind the tightening market. Critics argue that years of
regulations and penalties have discouraged long-term investment in
refining infrastructure, accelerating closures and amplifying price
swings for consumers. Supporters of the policies counter that refinery
shutdowns align with the state’s broader environmental and climate
goals. 

“This is happening right now, and the longer we wait to address this
issue, the more instability and volatility we’ll see here in
California,” Valladares said. 

https://nypost.com/2026/02/12/us-news/california-at-a-breaking-point-as-r
efineries-close-and-gas-prices-surge/ 

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[Spam] California 'at a breaking point' lawmaker cries, as gas prices surge again after more refinery closures Jonathan Ball <flunked-economics@ucla.edu> - 2026-03-06 08:47 +0100

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