ML-Implode News - California Gas Stations Begin to Shut on Record-High Spot Prices

"I can get gas, but it's going to cost me $4.90 a gallon, and I can't sell it here for $5," Ravi said. "If you come here right now, I've got some diesel left. That's all. My market is open, but no gas."
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Exxon's 150,000-barrel-a-day Torrance refinery may flare gases for a week as it restores production after a power failure that shut some units and slowed output from others, Gesuina Paras, an Exxon spokeswoman in Torrance, said by e-mail Oct. 2.
Chevron's Kettleman-Los Medanos pipeline, which carries crude from Kern County to Northern California refineries operated by Royal Dutch Shell Plc (RDSA), Tesoro Corp. (TSO) and Valero Energy Corp. (VLO), remained shut after elevated levels of organic chloride were detected in the oil.
Phillips 66 (PSX) is also scheduled to perform maintenance on process units at its Rodeo and Los Angeles refineries this month, people familiar with the schedules said.
Chevron's 240,000-barrel-a-day Richmond plant, the largest refinery in Northern California, has been running at reduced capacity since a fire Aug. 6.

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California Gas Stations Begin to Shut on Record-High Spot Prices