oil and gas

Gov. Newsom pushes gas price bill ahead of Assembly vote

NBC Universal, Inc. Gov. Gavin Newsom will make another push Monday for his gas price bill after it passed the state Senate and moved to a vote in the state Assembly. Kris Sanchez reports.

Gov. Gavin Newsom will make another push Monday for his gas price bill after it passed the state Senate and moved to a vote in the state Assembly.

The law would require oil refineries to maintain a minimum inventory level to prevent price spikes during peak driving months.

Californians already pay an average of $1.28 more per gallon of gas than the rest of the country, according to AAA.

Gov. Gavin Newsom will make another push Monday for his gas price bill after it passed the state Senate and moved to a vote in the state Assembly. Bob Redell reports.

The bill has been supported by several California mayors and other local leaders. But gas companies oppose it, saying refineries are already full and don't have the tanks to hold extra oil.

Julie Berge, with the Western States Petroleum Association, says if the bill is passed and the new regulations take effect, it would unintentionally raise gas prices.

"The California Energy Commission itself said that this could potentially create artificial shortages, so that means we’re going to have to withhold product from the market. So that can absolutely increase prices," Berge said.

Bay Area commuter Carlos Velarde said: "It’s hard. You have to make choices. I mean gas is a big part of it as well as housing. Those are the two components that either allow you to live here or force you to move away."

The governor has scheduled a news conference at 2 p.m. Monday to talk more about the bill.

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