California Gasoline Falls From High as Refiners Switch - report

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Gasoline at the pump in California fell from a record as refiners including Valero Energy Corp. ( VLO ) and Phillips 66 ( PSX ) began making a cheaper blend of fuel after receiving permission from the state, Bloomberg reported.

Regular gasoline at the pump slid to $4.666 a gallon today from the all-time peak of $4.671 Oct. 9, according to data from AAA, the nation's largest motoring organization. Prices jumped 50 cents last week as refineries reduced output and Chevron Corp. ( CVX ) shut a pipeline because of contamination.

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This article appears in: Investing Commodities
Referenced Stocks: CVX , PSX , VLO


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