Tue Oct 15 11:40:00 UTC 2024: ## California Gov. Newsom Signs Law to Curb Gas Price Spikes, Sparking Debate with Oil Industry
**SACRAMENTO, Calif.** – California Governor Gavin Newsom has signed a new law aimed at preventing sudden increases in gas prices, marking the latest move in his ongoing battle with the oil industry over energy costs and climate change.
The law, which gives energy regulators the power to require refineries to keep a certain amount of fuel on hand, was inspired by findings that gas price spikes are often driven by global crude oil price fluctuations and unplanned refinery outages. Proponents argue the measure will save Californians billions of dollars at the pump by preventing sudden price increases when refineries are offline for maintenance.
However, opponents, including the Western States Petroleum Association, have expressed concerns that the law could unintentionally raise overall gas prices and jeopardize worker safety by increasing state oversight of refinery maintenance schedules. They argue that delaying necessary maintenance could lead to accidents.
Newsom, who signed the measure just weeks ahead of the November election, defended the legislation, stating that it was not politically motivated. He further criticized the oil industry, accusing them of “lying and manipulating” to protect their profits.
The new law comes amidst a backdrop of sky-high gas prices in California, which are the highest in the nation due to taxes and environmental regulations. The average price for regular unleaded gas in the state was about $4.68 per gallon as of Monday, compared to the national average of $3.20.
The bill’s passage comes after a contentious debate in the state legislature. Republicans, who are in the minority, introduced their own proposals aimed at lowering gas prices, but these were blocked by the Democratic-controlled legislature.
State Senate President Pro Tempore Mike McGuire, a Democrat, highlighted the law as part of the state’s broader efforts to lower the cost of living for Californians, stating that “Californians are tired of the price spikes.”
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