fbpx
Friday, 11 March 2022 13:52

Legislation Targets Sky-High CA Gas Prices

Index

Share This:

 

With California gas prices topping $5 to $7 per gallon, California State Sen. Ben Allen joined with consumer advocates March 11 to announce new legislation that will require oil refiners to disclose once a month the price they pay for crude oil and the profit margins they make on the gasoline they refine and sell.

SB 1322, the California Oil Refinery Cost Disclosure Act, will allow Californians to finally know how much the big five oil refiners in the state are profiting from each gallon of gasoline they sell.

 

Read the legislation here.

 

View the slides presented at the press conference here.

 

"We ask the oil companies on behalf of California drivers: Let's end the games of smoke and mirrors. Open your books and show the public your true costs of doing business," said Allen, who chairs the California Legislature's Environmental Caucus and the Senate Environmental Quality Committee.

 

A 2019 report by the California Energy Commission concluded "the primary cause of the residual price increase is simply that California's retail gasoline outlets are charging higher prices than those in other states… The overall California increase in retail margins, above that experienced by the rest of the U.S., has resulted in California gasoline consumers paying an estimated additional $1.5 billion in 2018 and $11.6 billion over the last five years."

 

Gov. Gavin Newsom seized upon the report to call for an investigation by the California attorney general into the practices. No results have been announced.

 

"Gasoline prices in California are about a dollar and ten cents more per gallon than in the rest of America," said Jamie Court, president of Consumer Watchdog. "With California taxes and environmental fees adding about 50 cents per gallon, Californians have long...


Previous Page Continue reading »