With no oversight, California gasoline refiners appear have decided to charge whatever they want.
Saturday, May 2, 2015 – 02:00 p.m.
California regulators, the Automobile Club, GasBuddy.com and the Lundberg Survey have lost all credibility.
During the past two weeks refiners have driven up retail prices to nearly $4 a gallon. All while crude oil remains under $60 per barrel.
California refiners are dishing out all sorts of dubious reasons for manipulating prices higher. Half-baked stories of refinery shutdowns, maintenance issues and other tales, are unbelievable at this juncture.
What’s even more disgusting is the aforementioned bunch of industry monitors, by propelling these ridiculous oil company excuses, appear to be colluding with the gas industry at this point.
But the actual gasoline inventory numbers tell a different story.
Here’s the latest refinery numbers from the California Energy Commission:
California Energy Commission Weekly Fuels Watch Report
These numbers are based on reports from California refineries, and are subject to refinery revision and Energy Commission verification.
California Weekly Refinery Production and Stocks Levels
(Thousands of Barrels)
|CARB RFG (incl. Non-Oxygenated)||7017||6759||3.8%||6693||4.8%|
|Jet Fuel: Kerosene||2112||2098||0.7%||1911||10.5%|
|CARB-Diesel (< 15ppm Sulfur)||1717||1839||-6.6%||1483||15.8%|
|Other Diesel Fuel*||836||941||-11.2%||833||0.4%|
|CARB RFG (incl. Non-Oxygenated)||5239||5099||2.7%||5278||-0.7%|
|Gasoline Blending Components||6224||6263||-0.6%||5751||8.2%|
|Jet Fuel: Kerosene-Naphtha||3669||3686||-0.5%||3027||21.2%|
|CARB-Diesel ( <15ppm Sulfur)||2135||1977||8%||2267||-5.8%|
|Other Diesel Fuel*||1113||1146||-2.9%||1075||3.5%|
*Other diesel fuel includes EPA diesel and high sulfur diesel.
Negative values indicate a transfer of finished production being used as an input to production for another finished product. This typically occurs with high sulfur diesel being converted to a lower sulfur fuel.
Across-the-board the number are higher or pretty much unchanged from one year ago, not lower.
You would think the media would check the numbers out for themselves prior to spewing bad info to the public.
Let’s face it. The oil companies have decided to cut the pleasantries and just charge whatever they want, regardless of market forces.