California oil and jet fuel supply crisis: why are prices hitting $15 jet fuel and $5.85 gas as capacity and supply plunge—how soon can recovery happen?

California oil and jet fuel supply crisis is intensifying fast. Jet fuel prices have surged near $15 per gallon. Gasoline has climbed to $5.85 statewide. Supply is shrinking sharply. Inventories have dropped over 25% to multi-year lows. Refining capacity has been hit by planned and unplanned maintenance.