CNBC | Why gas prices are rising despite oil's plunge CNBC BP recently shut down its largest crude-oil processing unit in the Midwest after heavy damage from a malfunction. Lipow said California gas prices are still feeling the blows from an explosion in February at an Exxon Mobil refinery in the Los Angeles area. Oil moves nearer six-year low on Japan data, oversupply Oil near six-and-a-half-year low on Japan slowdown, China worry Oil Price Starts the Week in the Red |