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Gas prices at a station in Northridge on March 9, 2026. Gas prices have recently increased in the state as the U.S. war with Iran intensifies.
Zin Chiang
/
CalMatters
California built a first-in-the-nation system to police refinery profits during price spikes. Regulators delayed it for five years.Gasoline has surged to record highs as global oil markets spike amid the Iran war.The spike exposes a deeper problem: fewer refineries and limited California fuel supply.