Weekly Average Retail Regular Grade Gasoline Prices ... · Pipeline Link to U.S. Gulf Coast Refined Product Pi peline Systems CHART 5 Houston El Paso San Diego Los Angeles ... Branded

Weekly Average Retail Regular Grade Gasoline PricesCalifornia vs. Rest of U.S.

January 4, 1999 - April 7, 2003

220

(cen

ts p

er g

allo

n)

220¢

200

180

160

140

120

100

0 6 12 18 24 30 36 42 48 54

80 Jan Jul Jan Jul Jan Jul Jan Jul Jan

California

Rest of U.S.

2002 20031999 2000 2001

60

(cen

ts p

er g

allo

n)

60¢

45

30

15

(15)

(California Above Rest of U.S.)

Difference

(California Below Rest of U.S.)

0 6 12 18 24 30 36 42 48 54Jan Jul Jan Jul Jan Jul Jan Jul Jan

1999 2000 2001 2002 2003

0

CHART 1

Note: All figures include taxes on a California basis. Source: Energy Information Administration, California Energy Commission.

Monthly Average Retail Regular Grade Gasoline Prices California vs. Rest of U.S. January 1996 - March 2003

220

200

(cen

ts p

er g

allo

n)

220¢

180

160

140

120

100

80

California

Rest of U.S.

0 1996 12 1997 24 1998 36 1999 48 2000 60 2001 72 2002 84 2003 96

50

(cen

ts p

er g

allo

n)

50¢

40

30

20

10

(10)

(20)

(California Above Rest of U.S.)

Difference

(California Below Rest of U.S.)

1996 1997 1998 1999 2000 2001 2002 20030 12 24 36 48 60 72 84 96

0

CHART 2

Note: All figures include taxes on a California basis. Source: Energy Information Administration, California Energy Commission, Oil & Gas Journal.

Inventories of Finished Motor Gasoline (Days of Consumption)

January 1998 - March 2003

(da

ys

of

co

ns

um

pti

on

)

28

26

24

22

20

18

16

14

12

10

PADD I - IV

PADD V

0 6 12 18 24 30 36 42 48 54 60 66 1998

Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan 1999 2000 2001 2002 2003

Note: PADD V is comprised of AK, AZ,CA, HI, NV, OR, and WA. PADD I - IV includes all other states. Source: EIA.

CH

AR

T 3

Projected California Gasoline Consumption Over 2002

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2,200

2,400

2,600

2,800

(mil

lio

n g

all

on

s)

CH

AR

T 4 Source: California Energy Commission.

Pipeline Link to U.S. Gulf Coast Refined Product Pi peline Systems

CH

AR

T 5

Houston

El Paso

San Diego

Los Angeles

Phoenix

Tucson Kinder Morgan/

Southern Pacific Pipeline

Longhorn Pipeline

Line proposedfor reversal

Pipeline not yet in service

California Refiners ofMotor Vehicle Transportation Fuels

2003

ChevronTexacoConocoPhillipsShellTesoroValero

SF Bay Area

KernShell

Bakersfield

BPAmocoChevronTexacoConoco PhillipsExxonMobilParamount*ShellValero

Los Angeles

* Does not manufacture finished gasoline.Source: Oil & Gas Journal.

CHART 6

California Refiners Who Produce GasolineAs of January 1, 2003

CumulativePercentof Total

RefiningCapacity

(Barrels/Day)

Percentof Total

(Percent)

(1) (2) (3)

1. ChevronTexaco 485,000 26.0% 26.0%

2. Shell 318,300 17.0 43.0

3. BPAmoco 260,000 13.9 56.9

4. ConocoPhillips 238,420 12.8 69.7

5. Valero 232,000 12.4 82.1

6. Tersoro 161,000 8.6 90.7

7. ExxonMobil 149,000 8.0 98.7

8. Kern

Total

25,000

1,868,720

1.3 100.0

100.0%100.0%

Source: Oil & Gas Journal.

CHART 7

California Motor Gasoline MarketersJanuary - December 2002

CumulativePercentof Total

Gallons Sold*

Percentof Total

(Percent)(1,000 Gallons)

(1) (2) (3)

1. BPAmoco 3,188,369 20.5% 20.5%

2. Chevron 3,017,359 19.4 39.9

3. Shell 2,450,856 15.8 55.6

4. ConocoPhillips 2,200,431 14.1 69.8

5. Valero Mktg. & Supply Co. 1,616,209 10.4 80.2

6. ExxonMobil 1,242,957 8.0 88.2

7. Tesoro West Coast Co. 463,529 3.0 91.2

8. Tower Energy 380,873 2.4 93.6

9. Petro-Diamond, Inc. 257,961 1.7 95.3

10. New West Petroleum 174,805 1.1 96.4

11. Kern Oil & Refining Co. 123,272 0.8 97.2

12. Avefuel Corp. 8,122 0.1 97.2

13. Others 431,486

Total 14,454,941

2.8 100.0

100.0% 100.0%

* These volumes are based on "Taxable Sales" as defined by the State of California. Because taxes are recorded prior to final sales to retailers and consumers, the volumes reported by the State do not match perfectly with sales to retail dealers or consumers.

Source: Pacific West Oil Data.

CHART 8

Primary Channels forDistribution of Gasoline

Refiners

Bulk Salesto Wholesalers"Refinery Gate"

Refiners' Terminals

Distributors/"Jobbers"

Indirect Sales (Rack)Direct Sales

(Dealer BuyingPrices)

JobberSuppliedBrandedDealers

JobberSupplied

UnbrandedDealers

BrandedCompanyOperatedStations

BrandedOpen

Dealers

Consumers

BrandedLesseeDealers

76

767676 767676767676 767676

Branded Unbranded

CHART 9

Average California Branded Rack, DTW, & Pump PricesSan Francisco vs. Los Angeles


0 12 24 36 48 60 72 84 96 108 120

(10)

0

10

20

30

40

50

(ce

nts

pe

r g

all

on

)

SF DTW - LA DTW SF Rack - LA Rack SF Pump - LA Pump

1994 1995 1996 1997 1998 1999 2000 2001 2002 2003

50¢

Source: OPIS, Lundberg, Energy Information Administration, Oil & Gas Journal.

CH

AR

T 10

Estimated Breakdown of Gasoline Costs and MarginsJanuary 1999 - March 2003

0 6 12 18 24 30 36 42 48 54

($0.20)

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

(do

lla

rs p

er

ga

llo

n)

Refinery MarginCrude Oil Cost

Dealer Margin

1999 Jan Jul

2000 Jan Jul

2001 Jan Jul

2002 Jan Jul

2003 Jan

$0.66$0.69

$0.26

Mar'03

Note: This chart is included for comparison to Chart 11 of the Task Force Report on Gasoline Pricing (May 2000).The CEC recently renamed "Dealer Margin" as "Distribution Costs, Marketing Costs and Profits."

Source: California Energy Commission.

CH

AR

T 11

Monthly Unleaded Regular Gasoline Pump PricesFebruary 1988 - March 2003

0 12 24 36 48 60 72 84 96 108 120 132 144 156 168 180 192

80

90

100

110

120

130

140

150

160

170

180

190

200

210

220

230

(ce

nts

pe

r g

all

on

)

U.S. Average San Diego San Francisco Los Angeles

230¢

215.4¢

165.8¢

208.8¢

212.3¢

1988 1994 1995 1996 1997 1998 1999 2000 2001 2002 200319931992199119901989

Mar'03

Notes: U.S. Average includes taxes on a California basis.Source: Energy Information Administration, California Energy Commission, Oil & Gas Journal.

CH

AR

T 12

Annual Average Retail Gasoline PricesCalifornia vs. Rest of U.S.January 1983 - March 2003

0 6 12 1880

100

120

140

160

180

200

(cen

ts p

er g

allo

n)

California Rest of U.S.

200¢

1985

1983

1987

1986

1989

1988

1991

1990

1992

1995

19931994

1997

1996

1999

1998

2000

2003

20012002

1984

0 2 4 6 8 10 12 14 16 18(10)

(5)

0

5

10

15

20

(cen

ts p

er g

allo

n)

Difference

20¢1985

1983

1987

1986

1989

1988

1991

1990

1992

1995

19931994

1997

1996

1999

1998

2000

2003

20012002

1984 20

Note: All figures include taxes on a California basis.Source: Energy Information Administration, California Energy Commission, Oil & Gas Journal.

CHART 13

CHART 14

California Refiners and Crude Oil Refining Capacities

Refiner 1980 1990 1997 2003

(barrels per day)

(1) (2) (3) (4)Majors

Chevron

796,000

524,000

485,000

- Texaco 75,000 143,000 - - ChevronTexaco - - - 485,000Equilon (Shell/Texaco) - - 303,595 - Shell 212,000 273,400 - 318,300BPAmoco - - - 260,000Arco 180,000 223,000 255,000 - ConocoPhillips - - - 238,420Tosco 137,000 131,900 378,395 - Valero - - - 232,000Tesoro - - - 161,000Exxon 102,000 128,000 128,000 - Mobil 123,500 123,000 128,000 - ExxonMobil - - - 149,000Unocal 219,000 226,000 - -

Independents*Ultramar Diamond Shamrock - 68,000 100,000 - Paramount - 37,050 43,000 48,000San Joaquin Refining 27,000 18,000 35,300 24,300Kern 20,000 20,000 21,400 25,000Sunland 15,000 15,000 15,000 - Huntway 5,500 13,900 13,900 - Sierra Anchor 15,000 10,000 10,000 - Golden Bear 11,000 10,348 9,785 - World Oil - - 7,000 - Ten By - 4,000 4,500 - Beacon Oil 12,300 - - - Champlin 30,400 - - - Chemoil - 14,200 - - Conoco - 9,500 - - DeMenno-Kerdoon 15,000 - - - Douglas Oil 56,000 - - - Eco Petroleum 5,600 - - - Edgington 40,000 41,600 41,600 26,000Fletcher 30,500 28,750 - - Golden West - 44,000 - - Gulf 51,500 - - - Lunday-Thagard 10,000 7,000 8,500 8,500Macmillan 12,200 - - - Marlex Oil NR - - - Mohawk 22,100 - - - Newhall 17,600 - - - Oxnard 2,500 - - - Pacific 85,000 52,250 - - Powerine 44,120 46,550 - - Road Oil 6,000 - - - Sabre 7,500 - - - USA Petrochem 28,500 - - - West Coast 19,000 - - -

Total Capacity 2,433,820 2,212,448 1,987,975 1,975,520

Capacity of Top 6 Refiners 1,667,500 1,521,300 1,677,990 1,694,720

As a Percentage of Total 68.5% 68.8% 84.4% 85.8%

* Not all refineries produce or produced gasoline.

Source: Oil & Gas Journal Worldwide Refining Surveys.Energy Information Administration.

Page 1 of 1

Composition of a Gallon of Gasoline*State of California


0 4 8 12

0

25

50

75

100

125

150

175

200

225

(Ce

nts

pe

r G

all

on

)

Taxes Retail Margin** Marketing Margin Reformulation Margin Crude CostRefining Margin

2002

225¢

2003 2000 2001 Q4Q1 Q2 Q3 Q1Q4Q1 Q2 Q3 Q4Q1 Q2 Q3Q4Q2 Q3Q1 16

* Regular grade.** Retail margins generally are higher for midgrade and premium gasoline.

Source: Energy Information Administration, California Energy Commission, Lundberg, Platts.

CH

AR

T 15

1999

Composition of a Gallon of Gasoline*State of California


0

0

25

50

75

100

125

150

175

200

225

250

(Ce

nts

pe

r G

all

on

)


250¢

MarchJanuary February

76.0¢

207.9¢

17.3¢3.0¢

7.3¢5.4¢

11.6¢

157.0¢

178.1¢

48.0¢

9.1¢

5.8¢

21.7¢

5.8¢

83.8¢

49.3¢

51.6¢

35.8¢

24.6¢

9.2¢

77.6¢


Source: Energy Information Administration, California Energy Commission, Lundberg, Platts.

CH

AR

T 16

Composition of a Gallon of Gasoline*California vs. Rest of U.S.

1999 vs. 2002

California (99)

0

25

50

75

100

125

150

175

(Ce

nts

pe

r G

all

on

)


175¢

California Rest of U.S.California Rest of U.S.

2002

128.1¢132.4¢

105.4¢

143.7¢

41.4¢

5.6¢

13.0¢

5.3¢

62.1¢

47.2¢

6.5¢

41.0¢ 9.1¢

18.5¢

6.6¢

55.9¢35.6¢

16.0¢

2.1¢0.8¢

2.2¢1.3¢

42.8¢

13.9¢

4.6¢

25.0¢

7.3¢

45.9¢

1999


Note: Based on January through August period of each year for comparison to the Preliminary Report Regarding California Gasoline Prices (Nov-99).Source: Energy Information Administration, California Energy Commission, Platts.

CH

AR

T 17


January 2002 - August 2002

0

25

50

75

100

125

150

175

(Cen

ts P

er G

allo

n)


175¢

143.7¢

128.1¢

55.9¢

6.6¢

6.5¢

41.4¢

5.6¢

62.1¢

5.3¢0.8¢

Taxes

Marketing Margin

Refining Margin

Retail Margin**

Crude Cost

Reformulation Margin

47.2¢

18.5¢

9.1¢

13.0¢

CHART 18


Source: Energy Information Administration, California Energy Commission, Platts.


March 2003

0

25

50

75

100

125

150

175

200

225

(Cen

ts P

er G

allo

n)


225¢

207.9¢

160.5¢

77.6¢

9.1¢

9.2¢

40.7¢

6.6¢

82.4¢

15.6¢0.7¢

Taxes

Marketing Margin

Refining Margin

Retail Margin**

Crude Cost

Reformulation Margin

51.6¢

24.6¢

35.8¢

14.4¢

CHART 19


Source: Energy Information Administration, California Energy Commission, Platts.

Composition of a Gallon of GasolineDefinitions of Components

Component Definition

1. Crude Cost = ANS Spot Price (California);WTI Spot Price (Rest of U.S.).

2. Reformulation Margin = Reformulated Spot Price lessConventional Spot Price.

3. Refining Margin = Reformulated Spot Price less Reformulation Margin less Crude Cost.

4. Marketing Margin = DTW Price less Reformulated Spot Price.

5. Retail Margin = Retail Price less DTW Price.

6. Taxes = California includes average Federal,State, and Local Taxes. Rest of U.S.includes average Federal and State Taxes.

CHART 20

Documents

Weekly Average Retail Regular Grade Gasoline Prices ... · Pipeline Link to U.S. Gulf Coast Refined Product Pi peline Systems CHART 5 Houston El Paso San Diego Los Angeles ... Branded