California Gas Prices Surge to $4.58 a Gallon Amid Refinery Closures
ByAinvest
Wednesday, Feb 18, 2026 12:23 am ET1min read
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California gas prices have surged 40 cents in two weeks, averaging $4.58 a gallon, the highest in the country. The state's supply is constrained due to recent reductions in refining capacity, including the closure of Valero's refinery in Benicia and Phillips 66's refinery in Los Angeles. The tightening refining supply has prompted a letter from the California state senate's Republican caucus to Gov. Gavin Newsom, calling for a special session to address the worsening "cost and supply crisis" created by state policies targeting the oil and gas industry.

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