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Significant increase in CA gasoline prices post-refinery closure by end of 2025?
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Resolution / Starting Odds
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Gasoline price data from the California Energy Commission or similar agencies
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Phillips 66 to Close Seventh-Largest California Refinery in 2025, Ending Los Angeles Gasoline Output
Oct 16, 2024, 11:55 PM
Phillips 66 announced on Wednesday that it will cease operations at its Los Angeles-area refinery, the seventh-largest refinery in California, in the fourth quarter of 2025. The closure of the historic Wilmington-area refinery complex will impact approximately 600 employees and 300 contractors, ending gasoline output in Los Angeles. The announcement comes just days after California Governor Gavin Newsom signed a gas price bill into law, though Phillips 66 stated that the decision was not politically motivated and not in response to the new legislation. The company is engaging with land development firms Catellus and DECA to evaluate the future use of the site, potentially redeveloping it as a logistics hub. Despite the closure, Phillips 66 will remain in California and is committed to meeting the state's commercial and consumer fuel demands.
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