Editor, Ceres Courier,

Newspapers have run articles that discussed the possible closing of Valero’s Benicia refinery. In fact, three California refineries are now slated to close by the end of 2026: Phillips’ Wilmington refinery, Valero’s Wilmington refinery and Valero’s Benicia refinery. This is a loss of 369,000 barrels per day of crude oil production, or nearly 23% of California’s current refinery capacity.

Fundamental economics tells us that the result will be a dramatic increase in gasoline prices. In a recent paper, professor Michael Miche of USC predicted that the impact could be gasoline prices of over $8 a gallon. This was before Valero confirmed the closing of its Benicia refinery by the end of 2026.

The economic impact will be devastating, and Gov. Newsom has been AWOL.

R.P. Girouard

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