"As of mid-afternoon Tuesday, average per-gallon prices for unleaded gasoline were $4.61 in San Jose, $4.67 in Oakland, $4.76 in San Francisco, $4.75 in Los Angeles, and $4.66 in California. On Oct. 2, per-gallon prices for unleaded gas were $4.55 in San Jose, $4.65 in Oakland, $4.69 in San Francisco, $4.71 in Los Angeles, and $4.64 in California."
"Depending on the market, gas prices jumped more than 1 cent per gallon from midday Monday to mid-afternoon Tuesday. It's hard to know how much of a spike in gasoline prices we're going to get, said Severin Borenstein, an economist and faculty director of the Energy Institute at UC Berkeley's Haas School of Business. I would expect some increase, but it would be pretty minor."
"Texas-based Chevron, which moved its headquarters out of San Ramon this year, is attempting to wring as much fuel as it can from the remaining available units still operating at the El Segundo refinery. We want to ensure we optimize the remaining units at the plant, said Ross Allen, a Chevron spokesperson. We want to ensure we maximize the fuel supply we provide into the local market."
A fire at Chevron's El Segundo refinery triggered modest increases in California gasoline prices as the company works to maximize output from undamaged units. Mid-afternoon Tuesday averages reached $4.61 in San Jose, $4.67 in Oakland, $4.76 in San Francisco, $4.75 in Los Angeles and $4.66 statewide, slightly higher than Oct. 2 figures. Some markets saw over a one-cent-per-gallon jump between Monday midday and Tuesday afternoon. Economists expect only a minor overall increase. Chevron is optimizing remaining units to maintain local supply, and restoring full capacity is important ahead of the seasonal fuel-blend switch.
Read at www.mercurynews.com
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