Gas Prices to Rise in California

After a fire struck one of the nation's biggest oil refineries on Monday, analysts say that the real burn will be felt in our wallets. The average price of gas in California has already risen 8 cents, and experts say that the disruption could last weeks and boost prices above $4 a gallon on the West Coast, and potentially elsewhere. Chevron's facility in Richmond, CA, which caught fire on Monday night, produces 16 percent of the region's gas. The fire also claimed a facility that produces the cleaner-burning gasoline mandated by West Coast air quality laws.