A large fire recently broke out at a Chevron gas refinery in Southern California.
The fire is expected to raise gas prices by 10 to 20 cents per gallon.
What's happening?
As KGTV reported, the fire occurred at the Chevron El Segundo refinery, which processes about 16% of California's gasoline.
Firefighters extinguished the fire by the following day. However, petroleum analysts still anticipate gas prices will increase following the incident.
The price increase is due to less gas available to drivers in California while the refinery is not operational. Major supply chain issues are common when fires break out in refineries.
"It's too early to determine the impact the fire at the Chevron El Segundo refinery may have on fuel prices in Southern California," said Anlleyn Venegas with the Auto Club of Southern California. "What we do know is that the facility plays a significant role in the region's fuel supply."
Chevron has not released details about the refinery's fire damage or when it expects the refinery to resume operations.
Why are rising gas prices significant?
Gasoline already costs a lot in California, averaging $4.72 per gallon in both San Francisco and Los Angeles counties. When people have to pay more for gasoline, they have less money for other essentials.
When refinery fires occur, some people panic and head to the pumps immediately to fill up, anticipating future shortages. However, that behavior can actually create a gasoline shortage and exacerbate supply issues.
What's being done about unaffordable gas prices?
If you still drive a gas-powered car, it's recommended to shop around at different gas stations for the best prices, as prices can fluctuate from one station to another.
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How much does it cost to fill your car up with gas? Click your choice to see results and speak your mind. |
Over $55 💰 However, a far better approach is to trade your pollution-emitting car in for a clean-energy, cost-saving electric vehicle.
This way, you won't be impacted by rising gas costs and the impacts of refinery fires when they occur. You'll also save money on routine maintenance with an EV and avoid releasing toxic fumes into your community when you drive.
As an EV driver, you can save even more money by charging your EV at home instead of relying on public charging stations. Qmerit helps people install Level 2 chargers at home, with free installation estimates after you answer just a few questions about your electrical setup.
At-home solar panels can further enhance these savings by reducing EV charging costs. EnergySage makes it easy to compare local installer quotes with its free online tool.
"As a two-performance EV household, we enjoy not being a part of the gas price rollercoaster," one Facebook user commented on an SF Gate post sharing the Chevron fire news.
"I drive an EV charged by my solar panels," another Facebooker wrote. "I don't worry about gas prices."
"Glad I have a Tesla now!" someone else shared.
