The companies that turn oil into gasoline and diesel are likely to benefit more, right away, than the businesses that pump oil out of the ground.
Category: Valero Energy Corporation
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California’s High Gas Prices Could Climb Further as Refineries Close
The state has led the country in adopting electric cars and reducing gas use, but it now faces much higher gas prices as oil companies plan to shut down refineries.
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Trump Tariffs Could Hurt Oil Companies and Increase Gas Prices
Some oil refineries will probably struggle to replace imported crude oil if President Trump imposes 25 percent tariffs on products from Canada and Mexico.