California Wholesale Gas Jumps 22 cents on Chevron Outage

Commodities26 days ago

Gasoline retailers in Arizona and Nevada are facing price hikes as wholesale costs in the Western US surged on Wednesday. Spot prices for gasoline in California rose between 11 and 22 cents per gallon in a single day, and have climbed 13 cents over the last week, driven by reported downtime at the Chevron refinery in El Segundo.

The current average retail price for gasoline in California is $6.23 per gallon. Market activity suggests the state is now at risk of exceeding the all-time price record of $6.44 per gallon established in June 2022 if wholesale volatility persists.

Mapped to your portfolio

Possible scenarios

45%Fast Chevron Restart+0.0%
30%Outage Extends+0.0%
15%Imports Ease Market+0.0%

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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California Wholesale Gas Jumps 22 cents on Chevron Outage

In this story

California Chevron Arizona Nevada Western United States

$CVXChevron Corp.

Portfolio

SPY
State Street SPDR S&P 500 ETF Trust
100%

Portfolio

SPY
State Street SPDR S&P 500 ETF Trust
100%

Mapped to your portfolio

Possible scenarios

45%Fast Chevron Restart+0.0%
30%Outage Extends+0.0%
15%Imports Ease Market+0.0%

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.