Marathon Petroleum is offloading 2 million barrels of crude at the Port of Long Beach. This vessel represents the final oil tanker to depart the Persian Gulf before the regional conflict began.
California remains isolated from other U.S. energy pipelines and relies heavily on foreign imports. State gasoline refining capacity continues to decline as the Middle East conflict persists.
Lawmakers warn of potential fuel shortages following this final shipment. The California Energy Commission forecasts stable supplies through May but expects more expensive imports by June.
Analysts expect gasoline prices to rise sharply from the current average of over $6 per gallon. These price increases will likely precede any physical fuel shortages.