Phillips 66 announced Wednesday that it will close its Wilmington-area refinery complex next year but will work with the state to continue supplying fuel to consumers.

Philips 66, the massive oil company that operates across the United States, says that they will be closing their refiner in Wilmington next year after California Gov. Gavin Newsom signed a bill into law​ that looks at preventing gas prices from spiking.

Phillips 66 announced Wednesday that it will close its southern Los Angeles County refinery operations next year. Citing uncertainty about future sustainability of the refinery complex, which includes two facilities linked by a pipeline in Wilmington and Carson, the company's chair and CEO announced the decision in a statement.