SACRAMENTO (AP) — California’s attorney general is suing to block a petroleum company’s attempt to gain more control over oil, fearing it could further drive up gasoline prices.
Attorney General Xavier Becerra announced the lawsuit Thursday against Valero Energy Corporation.READ MORE: Vietnam Airlines Launches First Non-Stop Service From SFO To Ho Chi Minh City
Valero wants to buy a San Francisco Bay Area petroleum terminal from Plains All American Pipeline. The terminal in Martinez imports and exports petroleum products.
Becerra says the sale would mean all three Northern California petroleum terminals would be controlled by refineries who could “suffocate open competition.”READ MORE: Gov. Newsom Enlists California Highway Patrol To Help Stop Smash And Grab Robberies
One of Becerra’s predecessors, Bill Lockyer, forced Valero to sell the Martinez facility in 2005 as part of an anti-trust deal after the company acquired two terminals under an earlier business deal.
Lillian Riojas, spokeswoman for the Texas-based company, did not immediately comment.MORE NEWS: COVID: Omicron Variant Has Some Bay Area Families Revising Holiday Travel Plans
© Copyright 2017 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.