Petroleum Market Advisory Committee Final Report, December 2014 to November 2016

The California Energy Commission assembled the Petroleum Market Advisory Committee to help assess petroleum market issues of interest to the Commission. This report summarizes the activities, discussions, and observations of the committee during the December 2014 to November 2016 time frame. During this period, the committee explored and discussed the events following the February 18, 2015, Torrance Refinery explosion, its influence on the petroleum market, and market participant response to the event. Of primary concern were the three gasoline price spikes that occurred in the first half of 2015 and several policy options were discussed to lessen California’s exposure to these types of events. Over the course of these meetings, the committee heard from several stakeholders within the gasoline market including government agencies, traders, retailers, distributors, environmental and consumer groups, news organizations, and market analysis firms. Refinery companies declined all requests for participation.

Additional records and public comments can also be found under Energy Commission Docket Number 15-PMAC-01.