California Governor enacts law for minimum fuel stockpile at refineries to prevent sudden gas price spikes.

California Governor Gavin Newsom has enacted a law to prevent sudden spikes in gas prices by requiring refineries to maintain a minimum fuel stockpile. This measure aims to stabilize costs for Californians, who currently face the highest gas prices in the U.S., averaging $4.68 per gallon. While proponents claim it could save billions, critics warn it may unintentionally raise prices and jeopardize worker safety due to increased oversight of maintenance schedules.

October 14, 2024
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