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California Bill Empowers Regulators to Combat Gas Price Spikes with New Storage Requirements for Oil Refiners

California’s Democratic Gov. Gavin Newsom’s administration has introduced a bill to give state regulators more authority to address gasoline price spikes. The bill would allow the California Energy Commission to impose storage requirements on oil refiners to avoid supply shortages due to planned maintenance outages or other reasons. The legislation would amend S.B. 950, a measure from state Sen. Nancy Skinner that originally addressed prisoner releases, and co-author Assemblymember Gregg Hart (D) will be the bill’s authors.

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