High gas prices are posted at a gas station in Encino, Calif., Friday, Aug. 10, 2012. Analysts expect West Coast gas prices to rise beyond $4 a gallon after a fire knocked out a key section of one of the nation's largest oil refineries. In all, five separate investigations will be done to determine the cause and effects of the Monday night blaze at Chevron's Richmond refinery.(AP Photo/Damian Dovarganes)
Sen. Dianne Feinstein is calling for a federal investigation into gasoline price spikes that followed a fire at the Chevron oil refinery in Richmond.
In a letter sent Tuesday to the Federal Trade Commission, Feinstein said the Aug. 6 blaze that damaged the state's third largest refinery did not affect gasoline supplies as some analysts forecast, yet prices still rose dramatically.
Feinstein said the price of gas in the state reached a high of $4.21, more than double the increase seen in average cost of a gallon of gas in the continental U.S.
On Tuesday, the average price for a gallon of regular gasoline in California was $4.12, up from $3.86 on Aug. 7.
The senator said the spikes "appear to be unjustified by supply and demand fundamentals."
Watchdogs are questioning an exclusive agreement between the City of Oakland and a non-profit group, tapped to lead a multi-million dollar project to redevelop the area around the Coliseum BART station.