In a significant step towards stabilizing gas prices for consumers, the California Senate has advanced Governor Gavin Newsom’s proposal aimed at preventing sudden spikes in gasoline costs. The bill, ABx2-1, authored by Assemblymembers Gregg Hart and Cecilia Aguiar-Curry, along with Senator Nancy Skinner, received Senate approval after passing the Assembly last week.
The proposed legislation empowers the state to mandate that oil refiners maintain a minimum inventory of fuel to avoid supply shortages that can drive prices up. Additionally, it grants the California Energy Commission the authority to require refiners to prepare for resupply during maintenance outages.
Governor Newsom expressed his gratitude for the support from the Senate, stating, “Californians are one step closer to getting the protections they need against Big Oil’s price spikes. Price spikes cost consumers more than $2 billion last year, and we’re taking the action necessary to help put this to an end.”
The bill will now return to the Assembly for a final vote of concurrence. Senate President pro Tem Mike McGuire highlighted the bill’s importance, noting that rising gas prices affect nearly every aspect of life in California, from pump prices to the cost of everyday goods. “Putting mechanisms in place to help prevent costs from spiking benefits us all,” he said.