California Assembly approves bill requiring oil refiners to maintain minimum fuel inventories to prevent gas price spikes.
California's Assembly has approved a bill, backed by Governor Gavin Newsom, aimed at preventing gas price spikes during high-demand periods. The legislation requires oil refiners to maintain minimum fuel inventories to mitigate sudden price increases when refineries go offline for maintenance. Critics warn it could inadvertently raise gas prices and affect worker safety. The bill now moves to the Senate for further consideration. Californians currently face the highest gas prices in the U.S.
October 01, 2024
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