California Gas Price Bill Advances Amid Industry Pushback

Governor Newsom's proposal to stabilize fuel prices faces criticism from oil companies and potential impacts from upcoming environmental regulations.

The bill, Assembly Bill X2-1, requires oil refineries to maintain a minimum fuel supply to prevent price spikes.
Despite passing the Assembly with a narrow margin, the bill faces opposition from some Democrats, Republicans, and oil companies like Chevron.
Critics argue the legislation could inadvertently increase gas prices, with Chevron labeling the supporting arguments as flawed.
The bill includes an amendment for a labor representative on the energy commission's watchdog group, reflecting industry and union concerns.
California's Air Resources Board is set to vote on new low-carbon fuel standards next month, potentially raising gas prices further.