California’s new first-in-the-nation gas price gouging law is now in effect. Governor Gavin Newsom says it allows the state to step up its oversight and accountability of the oil industry. Newsom says the law exposes price manipulation in real time by requiring daily reports on the market and imports. It forces refineries to report maintenance schedules in advance and unplanned work in real-time to prevent price spikes. Lawmakers in Sacramento will also get monthly reports on refiners’ profit margins. Under the California Energy Commission, the law also establishes a new independent watchdog to monitor the industry.
California’s Gas Price Gouging Law Now In Effect
