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Analysis note:  Timing and location could not be better.  It soon will be time to vote.  Maybe this will get the attention of the progressives on the left-coast.  Only problem is food prices, etc. etc. are going to go up as a part of this on-going issue.  Somebody tell Obama that the oil from Canada -- via the pipeline he stopped - might just help.

 

Gasoline station owners in the Los Angeles area including Costco Wholesale Corp. (COST) are beginning to shut pumps because of supply shortages that have driven wholesale fuel prices to record highs.

Costco’s outlet in Simi Valley, 40 miles (64 kilometers) northwest of Los Angeles, ran out of regular gasoline yesterday and was selling premium fuel at the price of regular, Jeff Cole, Costco’s vice president of gasoline, said by telephone. The company hasn’t been able to find enough unbranded summer-grade gasoline to keep its stations supplied, he said.

[....] “I can get gas, but it’s going to cost me $4.90 a gallon, and I can’t sell it here for $5,” Ravi said. “If you come here right now, I’ve got some diesel left. That’s all. My market is open, but no gas.”

[....] Jim Li said yesterday that he may stop selling gasoline at his independent station, Best Auto Care, in San Francisco. He’s charging $4.59 a gallon for the fuel, “and I’m still losing money,” he said.

Wholesale prices are “going up so quick that there’s not even any margin to make any money at all,” he said by telephone.

California-grade, or CARB, diesel in Los Angeles was unchanged at 16 cents a gallon above heating oil futures on the Nymex. The fuel in San Francisco also held at a premium of 17 cents a gallon versus futures.[....]

 

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