California’s quest to phase out fossil fuels could make Nevada gas prices soar
The Nevada Independent••business
Key Points:
- California’s recent and planned refinery closures, including Phillips 66 and Valero facilities producing 284,000 barrels per day, threaten fuel supplies and could cause price spikes in Nevada and other Western states reliant on California for about 88% of their fuel.
- Nevada Governor Joe Lombardo has raised concerns about fuel insecurity as a safety issue and formed a fuel resiliency subcommittee to develop strategies to diversify supply routes, strengthen infrastructure, and protect the state’s fuel future amid increasing disruptions and California’s push for net-zero emissions by 2045.
- Price increases are expected as a natural response to reduced fuel supply, with projections ranging from modest hikes under $1.50 per gallon to spikes as high as $8 per gallon, disproportionately impacting low
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