Newsom Proposes Fuel Reserve Mandate to Curb Gas Price Spikes

California Governor aims to stabilize gas prices by requiring refiners to maintain minimum fuel reserves.

The proposal would authorize the California Energy Commission to enforce fuel reserve requirements.
Refiners would need to maintain a minimum supply to prevent price spikes during maintenance periods.
Opponents argue the plan imposes logistical challenges and could raise operational costs.
Supporters believe the mandate could save Californians hundreds of millions annually in gas costs.
The proposal follows a series of legislative efforts to increase transparency and accountability in the oil industry.