Posted: Oct 5, 2012 5:56 PM by The Associated Press
SACRAMENTO, Calif. (AP) - The California Energy Commission has determined that the state has plenty of gasoline to meet consumer demand and says prices at the pump should start to fall next week.
Commission spokeswoman Alison ApRoberts says a series of problems at refineries around the state led to a price spike, including a surge of 17 cents a gallon on Friday. But Exxon Mobil announced that it was reopening its Torrance refinery after an unplanned shutdown, and supplies are rebounding.
A week of soaring costs has led some California stations to close and others to charge record prices.
On Friday, ApRoberts said prices on the wholesale market had peaked. She says consumers should start to see falling prices over the next week.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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