California drivers already pay the nation’s highest pump prices—averaging $4.65 for regular todayaccording to AAA—but a new analysis from University of Southern California energy economist Michael A. Mische says the bill could soar well beyond anything the state has seen if two looming refinery shutdowns go forward.
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What the report says
- Price shock on the horizon: If Phillips 66 shutters its Los Angeles refinery in late 2025 and Valero follows by closing its Benicia plant in April 2026, the average…