Two major California refineries are on track to shut down within the next year, raising alarms over potential fuel shortages and sharp price hikes, according to KRON4 News. The Valero facility in Benicia is expected to close by spring 2026, and the Phillips 66 plant in Southern California may also halt operations soon.
According to KRON4 News, state officials warn that removing this capacity from the market could cause a significant supply crunch, especially as California continues its transition away from fossil fuels. With fewer in-state refineries, the state would likely need to rely more on imported gasoline — a move that could add costs at the pump.
Lawmakers are expressing concern over affordability, with some warning that aggressive climate…..