California's runaway gasoline price inflation is likely to spread everywhere soon. While there are differences between the local gas market in California and the rest of the nation, many of their recent problems can easily come to a gas station near you. Five-dollar-a-gallon gas could be a reality for the rest of us.
One reason that California gas is so expensive is stringent state emissions standards. Those standards dictate very specialized refined gas, more expensive to make and available only from a few refiners. That relative shortage of refiners selling "clean gas" to the West Coast is another reason. A recent fire and subsequent shutdown of a big Chevron (CVX) refinery has dropped the supply of California-grade gasoline available, and local traders have done the rest of the job speculating into the market and driving prices to record highs....336 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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