California Focus: Refiners win latest round; accountability could be coming ...Middle East

The cheating, price-gouging refiners who produce most California gasoline have won another round. Average prices per gallon have fallen below $5.50 and there’s less anger at the pumps now than a few months ago, when the tab leaped almost $2 per gallon overnight. Now if you hear any talk while parked at the pump, it’s mostly grousing, not outright fury. This is the same tactic the oil companies have used repeatedly since the first gasoline crunch hit America in the 1970s, when Arab and other oil producing countries embargoed oil coming here, supplies were rationed and prices soared above $2 for the first time. They fell back a bit when the embargo was lifted, and consumers eventually accepted

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California Focus: Refiners win latest round; accountability could be coming ...Middle East

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