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California Warns Fuel Traders Of Shortages That Threaten Fall Price Spike
['Tyler Durden']
ZeroHedge News
California, already home to the highest gasoline prices in the U.S., is now bracing for another seasonal surge.
The state’s energy regulator has cautioned gasoline traders that it is monitoring the market closely as refinery maintenance squeezes supplies.
The state’s unique fuel blends, required under strict environmental rules, make it harder to secure alternative supplies when local refineries shut down.
Bloomberg writes that while state leaders ease pressure on refiners, traders face heightened scrutiny.
The state has also shown it is willing to act: in 2020, the attorney general sued Vitol Inc. and SK Energy Americas Inc. for manipulating the gasoline market during a 2015 spike.