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Gasoline station owners in the Los Angeles area including Costco Wholesale Corp. (COST) are beginning to shut pumps because of supply shortages that have driven wholesale fuel prices to record highs.
Costco’s outlet in Simi Valley, 40 miles (64 kilometers) northwest of Los Angeles, ran out of regular gasoline yesterday and was selling premium fuel at the price of regular, Jeff Cole, Costco’s vice president of gasoline, said by telephone. The company hasn’t been able to find enough unbranded summer-grade gasoline to keep its stations supplied, he said.
Enlarge image California Gas Stations Begin to Shut on Record-High Spot Prices
The gasoline shortage “feels like a hurricane to me, but it’s the West Coast,” Cole said yesterday. “We’re obviously extremely disheartened that we are unable to do this, and we’re pulling fuel from all corners of California to fix this.” ...
Originally posted by grey580
reply to post by xuenchen
Time for all state AG's to get together and put big oil's feet to the fire for price gouging.
Because they could lower prices but choose not to over bigger profits.
Originally posted by Putyournamehere
Try living in Canada, you guys got it good compared to us. Our dollar is worth more yet we pay more for everything.Bieng the little guy kinda sucks.
They tried to investigate gouging in 2008 at the federal level when gas was over $5
The Republicans shot it down and defunded the investigation
Originally posted by sylent6
I knew I must have been trippin' out because I stopped at the gas station and told the clerk to give me $20.
When I return to the pump, I decided to use regular instead of plus to save a cent or two.
While I was pumping, I notice it was $4.45 a gallon when it was $4.05 two freaking days ago? This is the Central Valley we're talking about here and I know L.A. is worse.
I couldn't believe this bull has happen. What in the heck is going on?
Originally posted by xuenchen
reply to post by campanionator
They tried to investigate gouging in 2008 at the federal level when gas was over $5
The Republicans shot it down and defunded the investigation
Is there any stories about that ?
Interesting if you can show how and who were behind a "defunding".....