Comment: Monopolies hate competition from independents.

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SteveMT's picture

Monopolies hate competition from independents.

This is called a force-out before the arrival of the really big price increases. Ugh.

California Gas Stations Begin to Shut on Record-High Spot Prices
By Lynn Doan and Joshua Falk on October 04, 2012

Gasoline station owners in the Los Angeles area including Costco Wholesale Corp. (COST) are beginning to shut pumps as the state’s oil refiners started rationing supplies and spot prices surged to a record.

Valero Energy Corp. (VLO) stopped selling gasoline on the spot, or wholesale, market in Southern California and is allocating deliveries to customers. Exxon Mobil Corp. (XOM) is also rationing fuel to U.S. West Coast terminal customers. 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.

The gasoline shortage “feels like a hurricane to me,....