Although gas prices in California have dropped below 2-10 a gallon at a number of stations, we’re still paying too much, according to the group Consumer Watchdog. They testified earlier this week at a hearing held by a committee of the state energy commission. Group president Jamie Court says we’re still paying much more than drivers in the rest of the country, with state refiners continuing to reap double their historical profits…

click to listen to Jamie Court

Court says there are only four oil refineries in California, which control 78% of the market. And when one shuts down, that usually results in a major spike. He says one was kept off line for a year and a half before reopening this summer, with prices dropping again. But he says we really don’t need more refineries, with capacity still adequate…

click to listen to Jamie Court

Court also says the unique, cleaner blend of gas made in California no longer has a major impact on pump prices, with retrofitting costs not an issue anymore. But he says we are an isolated market, with very little ability to import similar gas from other parts of the country or overseas. Court says the California Attorney General’s Office has begun an investigation, but they have not seen the results. In the meantime, they’ve called on the energy committee to make recommendations to the Legislature and Governor that refiners open their books and be forced to disclose pricing strategies, and that regulators better police the highly concentrated market.