Gas Prices

Sunday, August 9, 2015 – 10:30 a.m.

The California Energy Commission issued its latest refinery activity report on Wednesday, and it was essentially the same as the past four weeks.

There was no tangible shortage of gasoline, gasoline blending components or crude oil supplies.

It’s no wonder there’s been several newspaper articles of oil companies profiting by more than $1.50 per gallon of gasoline sold in recent months.

That’s profit!

But the Oil companies push back, saying state taxes and fees are to blame, is nonsensical.

Oil companies doing business in California have been slow to lower prices back down, reaping in millions more in unjustified profits on the backs of drivers, primarily in Southern California.

The group Consumer Watchdog is correct in its assertion that oil companies are colluding to manipulate prices higher. They’re doing it by creating a false narratives of repeated gas shortages. Gas shortages that, in the end, never materialize.

The rouge’s gallery of oil companies includes Exxon Mobil, Valero, Tesoro and Chevron.

Gasoline prices are projected to go significantly lower after the Summer driving season ends Labor day weekend.

Here’s are the latest statewide numbers:

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.

Charts of statewide and regional production and inventories, with five-year comparisons

California Weekly Refinery Production and Stocks Levels
(Thousands of Barrels)

07/31/201507/24/2015Percent
Change
One Year
Ago
Percent
Change
Refinery Input
Crude Oil12121120430.6%12166-0.4%
Refinery Production
Motor Gasoline:
CARB RFG (incl. Non-Oxygenated)7287651311.9%653511.5%
Non-California Gasoline566867-34.7%765-26%
Total Gasoline785373806.4%73007.6%
Jet Fuel: Kerosene20232074-2.5%19842%
Distillates:
CARB-Diesel (< 15ppm Sulfur)14961632-8.3%1783-16.1%
Other Diesel Fuel*98185514.7%64951.2%
Total Distillates24772487-0.4%24321.9%
Residual33029013.8%21950.7%
Refinery Stocks
Crude Oil14701143502.4%15102-2.7%
Motor Gasoline:
CARB RFG (incl. Non-Oxygenated)515450761.5%47328.9%
Non-California Gasoline106910531.5%1186-9.9%
Total Gasoline622361291.5%59185.2%
Gasoline Blending Components49845319-6.3%5191-4%
Jet Fuel: Kerosene-Naphtha29542976-0.7%3027-2.4%
Distillates:
CARB-Diesel ( <15ppm Sulfur)17752044-13.2%2085-14.9%
Other Diesel Fuel*137613115%1549-11.2%
Total Distillates31513355-6.1%3634-13.3%
Residual1521134413.2%120026.8%

*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.

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