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Wholesale California gasoline prices plunge, consumers still pay up
July 29, 2016 1:06 AM EDTBy Liz Hampton and Jessica Resnick-Ault
HOUSTON (Reuters) - Wholesale gasoline in California became the cheapest in the country this week, but that change has largely gone unseen at the pump, where consumers are still paying the highest prices in the continental United States to fill up their cars.
Ample inventories along with relatively stable refinery operations and imports has driven down the spot value of gasoline in Los Angeles at the wholesale level by more than 60 cents since mid-June.
However, that has not translated to similarly lower retail fuel prices for consumers because of peculiarities in... More
