California officials are working to find a buyer for Valero Energy’s Benicia refinery near San Francisco, as the company plans to close the facility in April. The state is concerned about fuel supplies and high gasoline prices, which are among the highest in the country.

The California Energy Commission is actively seeking buyers for the plant to ensure it remains open, marking a shift from the state’s green initiatives. Valero’s planned closure in April 2026 raises concerns about the state’s fuel supplies and high prices, prompting the review of other refineries in California.

The closure of Valero’s and Phillips 66’s refineries could lead to a 17% reduction in California’s gasoline supply. This, along with other closures and conversions to renewable fuels, will increase the state’s dependence on expensive fuel imports, driving up prices further.

Average gasoline prices in California are the highest in the nation at $4.484 per gallon, prompting concerns that refinery closures could push prices to $6 or $8 per gallon. Industry experts believe securing a buyer for Benicia by April will be challenging due to the complex sale process.

The California government’s climate-first agenda has clashed with energy companies and federal policies. President Trump recently signed a resolution to block California’s plan to end gasoline-only vehicle sales by 2035. California’s energy regulator is recommending new rules to encourage private investment in fuel imports and support struggling refiners.

Read more at Yahoo Finance: Exclusive-In rare move, California steps in to find buyer for Valero refinery to avoid closure, sources say