Story perspectives

California Faces Gas Supply Crisis as Refineries Close by 2026

12/21/2025

Summary

Story summary

By 2026, Valero Energy Corporation's Benicia refinery and Phillips 66 Company's Los Angeles plant will close, removing about 17% of California's gasoline supply.
California currently averages $4.34 per gallon, with spikes to $10–$12 in extreme scenarios.
Lawmakers raise concerns about energy security and military operations due to California's reliance on local fuel.
State officials remain optimistic about supply, but experts warn closures could cause price increases and shortages, affecting households.

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Story summary

By 2026, Valero Energy Corporation's Benicia refinery and Phillips 66 Company's Los Angeles plant will close, removing about 17% of California's gasoline supply.
California currently averages $4.34 per gallon, with spikes to $10–$12 in extreme scenarios.
Lawmakers raise concerns about energy security and military operations due to California's reliance on local fuel.
State officials remain optimistic about supply, but experts warn closures could cause price increases and shortages, affecting households.