Back to today’s briefing

Story perspectives

California Gas Prices Soar Above $6 Amid Supply Crisis

4/3/2026

32 3 Full Breakdown

Center

California Gas Crisis

California drivers face average gas prices above $6 per gallon, the highest in the United States.
A recent investigation ties rising costs to high taxes, labor costs, a unique fuel blend, and global supply risks.
Two major refineries have shut down, cutting California's refining capacity by nearly 20%.
State officials say the shift from blaming oil companies to policy fixes aims to curb volatility.

Right

Chevron Dismisses Lawsuit

Chevron filed a motion to dismiss a lawsuit alleging price manipulation in California's gasoline market.
The lawsuit claims refiners misrepresented compliance costs tied to the Low Carbon Fuel Standard to inflate prices.
Chevron says the plaintiffs lack evidence and standing.
California gas prices have surged to nearly $6 per gallon, with Los Angeles County above the state average.
Valero plans to cease operations at Benicia refinery by April 2026.

1 of 2

California Gas Crisis

California drivers face average gas prices above $6 per gallon, the highest in the United States.
A recent investigation ties rising costs to high taxes, labor costs, a unique fuel blend, and global supply risks.
Two major refineries have shut down, cutting California's refining capacity by nearly 20%.
State officials say the shift from blaming oil companies to policy fixes aims to curb volatility.

1 / 2