California Refinery Closures Spell Trouble for Fuel Prices, Supply: Experts

The Valero logo is displayed on a tank at the Valero Wilmington Oil Refinery adjacent to the ports of Long Beach and Los Angeles in the Wilmington neighborhood of Los Angeles, Calif. Patrick T. Fallon/AFP via Getty ImagesSeveral energy companies have announced the closure of some of their refineries in California in recent months, citing the regulatory environment and operational losses.Multiple experts in the state’s oil and gas industry recently spoke with The Epoch Times about the closures and their potential impacts on fuel prices and fuel availability in the Golden State.Refinery ClosuresValero Energy Corporation announced in April 2025 that it would shutter its refinery operations in Benicia, in the San Francisco Bay area. The company also said that it had evaluated the refinery assets in Benicia and Wilmington, near the Port of Long Beach, and concluded that the carrying values of both assets were not recoverable.