Oil Refineries
EIA: California fuel prices are rising due to supply issues and compliance costs
The U.S. Energy Information Administration reported on Monday that California drivers pay more at the pump due to issues with supply, environmental compliance, fuel requirements and high state taxes. The latest data shows that in March, environmental programs like Cap-and-Trade, Low Carbon Fuel Standard and Cap-and-Trade added $0.54 per gallon to the cost of gasoline. EIA reported that California consumers pay $0.90 per gallon, or the highest amount in the nation, in taxes and fees, as of March. Why it's important California is the biggest gasoline market in the United States, but many fuelmakers have closed less profitable stations citing...