Oil Storage
California gasoline stock drops to record lows due to disruptions caused by Hormuz
Fuel prices are soaring across the country due to 'the war against Iran.' Analysts warn that California has not yet felt the full impact of supply disruptions caused by the closing of the Strait of Hormuz. According to the American Automobile Association, California motorists paid an average of $5.86 per gallon on Thursday, the highest price in the U.S. This is far higher than the national average of $4.09 per gallon. Analysts say that because California relies heavily on Asian refined products, the supply crunch will worsen. This means California is among the first states in the U.S. who are...