California Assembly Passes Bills to Curb Gas Price Spikes

The legislation, backed by Gov. Newsom, aims to stabilize fuel costs by mandating oil refiners maintain adequate reserves.

The California Assembly approved bills to prevent sudden gas price increases by requiring oil refiners to keep sufficient fuel reserves.
Gov. Gavin Newsom's proposal follows ongoing disputes with the oil industry over high gas prices in the state.
The legislation still needs approval from the state Senate and the governor's signature to become law.
Opponents argue the bills could inadvertently raise overall gas prices and pose safety risks by altering refinery maintenance schedules.
The measures include a requirement for state energy officials to report by July 2025 on ways to increase the state's gasoline supply.