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California drivers and Republican politicians have blamed Democrats and high gas taxes for the huge difference in the price of gasoline here compared to other states.
IOC is the only state refiner that has an annual deal to buy a variety of Russian grades, including Sokol, from Russian oil major Rosneft. Sokol oil is supplied to IOC by Sakhalin-1 LLC, a unit of Rosneft, sources said.
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The price difference between a barrel of crude and a barrel of petrol offers a glimpse of things to come for the industry
Venezuelan state-run oil company PDVSA has begun contacting customers with crude supply contracts amid the temporary lifting of U.S. sanctions, two people familiar to the matter said on Thursday, moving to resume cash sales to global refiners.