energy · July 17, 2026
California Refiner Profit Margins Surge to $1.29 Per Gallon in May, Reigniting Price Gouging Debate
New data from the California Energy Commission reveals oil refiner profit margins reached $1.29 per gallon in May 2026, nearly three times the 44-cent benchmark, prompting renewed calls for price gouging penalties that could have returned over $600 million to consumers.