Another California oil refinery will close next year, raising the possibility of further pressure on gasoline supplies and higher prices for motorists.
Texas-based Valero Energy Corporation said on April 16 that it had submitted a notice to the California Energy Commission of its intent to idle, restructure, or cease operations at its Benicia Refinery in Northern California by the end of April 2026.
“We understand the impact that this may have on our employees, business partners, and community, and will continue to work with them through this period,” said Lane Riggs, chairman and CEO of Valero, in a press release.
The Bay Area refinery processes about 145,000 barrels a day, accounting for about 9 percent of the state’s crude oil capacity and more than 9 percent of California’s special blend gasoline production, according to the California Energy Commission….