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News in English (USA) / 02.10.2024 / 07:00

California Lawmakers Advance Bill to Combat Gas Price Spikes Amid Controversy

California lawmakers have moved forward with legislation aimed at preventing gas price spikes, responding to concerns over limited gas supplies. Governor Newsom's plan, which has received support from Stanford economists but faces criticism for potentially creating artificial shortages, passed the Assembly and now awaits consideration in the Senate. The proposal includes a requirement for gasoline sellers to maintain minimum reserves, a measure that advocates argue will stabilize prices for consumers. However, some critics warn that such regulations could lead to unintended consequences, including increased prices during refinery shutdowns. As the special session continues, both consumers and lawmakers are watching the developments closely.
The Associated Press, CalMatters, Sacramento Bee, Office of Governor Gavin Newsom, The Mercury News, Yahoo! Voices, KTVU FOX 2 San Francisco, Oakdale Leader, Alpine Sun, WV News