Calif. governor unveils bill aimed at tamping down gas price spikes

By Wes Venteicher | 08/28/2024 01:08 PM EDT

The bill would authorize state regulators to require refiners to keep more supplies on hand to manage gasoline prices.

California Gov. Gavin Newsom speaks at a lectern.

California Gov. Gavin Newsom's (D) administration unveiled legislation Tuesday to enable state regulators to require refiners to store more oil. Derrick Tuskan/AP

SACRAMENTO, California — Democratic Gov. Gavin Newsom’s administration unveiled a bill Tuesday afternoon to give state regulators more authority to address gasoline price spikes.

Newsom administration officials circulated the bill language Tuesday afternoon among Assembly lawmakers.

The bill language, obtained by POLITICO, would enable the California Energy Commission to impose storage requirements on oil refiners in order to avoid supply shortages due to planned maintenance outages or other reasons.

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The language would amend S.B. 950, a measure from state Sen. Nancy Skinner (D) that originally addressed prisoner releases. Assemblymember Gregg Hart (D) would be a co-author.

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