California Ponders Takeover of Oil Refineries as Facilities Shut Down

Energy experts say state-run facilities would not reduce the risk of spiking gas prices.
California Ponders Takeover of Oil Refineries as Facilities Shut Down
The Phillips 66 refinery near the Port of Los Angeles on March 28, 2025. John Fredricks/The Epoch Times
Brad Jones
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Analysts say Californians could be paying significantly more for gasoline with the impending closure of two Phillips 66 refineries in Los Angeles, which account for about 8 percent of the state’s oil refining capacity, by the end of 2025.

Valero Energy Corp. on April 16 separately announced that it will shut down or restructure its Benicia refinery in the San Francisco Bay area—which accounts for about 9 percent of state refining capacity—by April 2026, increasing concerns over gas prices and supply.