California seeks to eradicate abusive gasoline prices

USA Diario
California seeks to eradicate abusive gasoline pricesPhoto byUSA Diario

California is right now one of the American states with the highest gasoline prices, a product of taxes and environmental regulations.

For this reason, the Democrat Gavin Newsom, governor of the state, promoted a proposal that seeks to combat fraud in the price of this fuel. This proposal was recently approved in a special session of the California State Senate.

In this sense, the territory has taken a step forward in the approval of a law that would be a pioneer in the whole country. Its objective is to eradicate and sanction the astronomical and abusive gasoline prices imposed by oil companies.

Although it is true that the approval of the project by the State Assembly is still pending, with this proposal the oil companies will be held accountable. It also contributes to put an end to the era of the excessive influence of oil. This is what the Democratic governor said in a statement on his office's web page.

How does this project arise?

Its starting point begins with the increase in gasoline prices in the state during the last year. In the summer of 2022 alone, the peak in California was a record $6.44 USD for a gallon of gas.

The governor attempted to address the situation by asking state legislators to pass a tax on oil company profits.

However, this tax was denied and he saw no alternative but to demand explanations from the companies about the astronomical price of fuel.

Currently, the bill proposes the creation of a new watchdog within the California Energy Commission (CEC). This would be in charge of regularly supervising the state's oil market to ensure that companies do not violate the rules.

In this way, consumers would be protected from high prices and abuses of power. Accordingly, the agency will have the power to refer infractions to the courts for prosecution under the law.

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