Report Projects California Gasoline Prices to Hit $8/Gallon by End of 2026

California gasoline prices could reach more than $8 per gallon by the end of 2026, an increase of more than 75%, according to a new study led by Michael A. Mische of USC's Marshall School of Business. A key factor in this price increase is the potential loss of 21% of the state’s refining capacity from 2023 to April 2026 with the closure of the Phillips…