Los Angeles Business Journal

Gas Prices Ease Overnight

Wednesday, October 10, 2012

The worst-ever one-week spike for California gasoline may be over for now, the Los Angeles Times reports. Prices dropped by an average of 0.5 cents a gallon overnight, to the still astounding level of $4.666. Even so, Reuters reports that Chevron Corp.’s central crude oil refining unit at its Richmond refinery now is expected to remain shut for the rest of the year due to the major fire in August. The San Jose Mercury News looks at why there's no easy answer for fixing the state's gas pricing instability.