THE CENTER SQUARE—A new analysis has found California gasoline prices could rise to $8.44 per gallon by the end of 2026 after the pending closure of two refineries—one-fifth of the state’s refining capacity—and the onset of new state regulations.
California gas prices are already the nation’s highest, at $4.78 per gallon for regular-grade gasoline Tuesday, according to AAA.
The new study from University of Southern California professor Michael A. Mische examined California’s historical gas prices, oil supply, and refining capacity, and modeled the likely impact of refinery closures and costly new fossil fuel and refinery fees and regulations.
“The shutdown of the two California-based refineries could possibly place the Golden State in a precarious economic situation and create a gasoline deficit potentially ranging from 6.6 million to 13.1 million…
