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California is infamous for its steep gas prices, which are the highest in the country. And in recent days prices have been spiking, with a gallon of regular unleaded crossing $5.30 on average in the Golden State compared to the national average of around $3.60.
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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.
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Drivers across Oregon paid an average of 16 cents more per gallon on gas last week after an unplanned pipeline outage limited the gasoline supply flowing into the state.
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The California Energy Commission decided last week to suspend its ability to impose a profit cap on gasoline refiners for the next five years.
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No immediate hike in California gas prices will occur but Democrats and Republicans in the Legislature fear the effects of the clean-fuel program.
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The state air board will vote on changes to its landmark clean fuel program that would cut more greenhouse gases but could raise the cost of gas and diesel.
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California Gov. Gavin Newsom signed a law Monday aimed at preventing gas prices from spiking, marking the Democrat's latest move in a battle with the oil industry over energy prices and the impacts of climate change.
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The California state Senate passed a measure Friday to prevent gas prices from spiking in a state where it is notoriously expensive to fill up at the pump.
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The Assembly approves Gov. Newsom’s bill on oil refineries on a 44-17 vote. But the state Senate will have its say when it convenes next week.
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The California governor wants new gas reserves to dampen seasonal price spikes. Refiners say the move would raise prices and require new storage tanks.
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Special session proceedings started in the Assembly on Wednesday as lawmakers held informational hearings on Governor Gavin Newsom’s proposal aimed at lowering gas prices.
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Unable to jam through bills he says will lower California gas prices, Gov. Newsom calls the Legislature back into session.
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The commission is starting to put into effect the gas price gouging and transparency bill Gov. Gavin Newsom signed into law last spring.
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Newsom has previously said price gouging by the oil industry could be partially to blame for spiking costs.