California Refinery Blast Threatens to Bring Back $3 Gas
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An explosion at an Exxon Mobil Corp. oil refinery is threatening to boost retail gasoline prices in Los Angeles that are already within cents of $3 a gallon.
Prices at Los Angeles pumps gained 2 cents to average $2.88 a gallon on Wednesday, according to the Automobile Club of Southern California. That was before the blast at the Exxon Torrance refinery, which forced shut two key gasoline-producing units, according to two people familiar with the situation who asked not to be identified because the information isn’t public. Wholesale gasoline in Los Angeles surged to the highest level in more than 17 months.