California Senate approves bill allowing energy commission to control refiners' gasoline reserves, preventing sudden price spikes.

The California Senate has approved Assembly Bill X2-1, granting the state's energy commission the authority to require oil refiners to maintain minimum gasoline reserves. Passed with a 23-9 vote, the bill aims to prevent sudden gasoline price spikes by increasing transparency in refining operations and limiting practices that manipulate market prices. This legislation seeks to stabilize fuel costs for consumers.

October 11, 2024
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