Phillips 66 Confirms Los Angeles Refinery Shutdown by October [Yahoo! Finance]
Phillips 66 (PSX)
Last phillips 66 earnings: 5/1 07:00 am
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Source: Yahoo! Finance
Mark Lashier announced at the Piper Sandler Energy Conference. The company had previously indicated it would idle the facility in the fourth quarter of 2025 due to the increasing challenges faced by the refining sector in California. The decision to close the Los Angeles refinery could have a significant impact on California's fuel supply and prices. Historically, Los Angeles spot CARBOB gasoline prices surged to nearly $5 per gallon in September 2022 and 2023. The shutdown, combined with seasonal refinery maintenance and the transition from summer to winter fuel grades, could create supply constraints in the fall. California's gasoline demand typically remains robust in early fall due to favorable driving conditions. With the planned closure, analysts anticipate potential market disruptions, particularly if additional refinery outages occur simultaneously. The shutdown underscores broader challenges for refiners operating in California, including regulatory pressures and shifting
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