Cilfornia Gas Stations Shut as Oil Refiners Ration Supplies..
http://www.bloomberg.com/news/2012-1...ot-prices.html
Gasoline station owners in the Los Angeles area including Costco Wholesale Corp. (COST) are beginning to shut pumps as the state’s oil refiners started rationing supplies and spot prices surged to a record.
Valero Energy Corp. (VLO) stopped selling gasoline on the spot, or wholesale, market in Southern California and is allocating deliveries to customers. Exxon Mobil Corp. (XOM) is also rationing fuel to U.S. West Coast terminal customers. Costco’s outlet in Simi Valley, 40 miles (64 kilometers) northwest of Los Angeles, ran out of regular gasoline yesterday and was selling premium fuel at the price of regular.
Enlarge image California Gas Stations Begin to Shut on Record-High Spot Prices
Justin Sullivan/Getty Images
A gas delivery in San Anselmo, California.
A gas delivery in San Anselmo, California. Photographer: Justin Sullivan/Getty Images
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