The California Assembly has advanced Governor Gavin Newsom’s proposal aimed at preventing gasoline price spikes. The proposal, now headed to the Senate, was passed during a special session called by the Governor.
Assembly Bill ABx2-1, authored by Assemblymembers Gregg Hart and Cecilia Aguiar-Curry, seeks to mandate that oil refiners maintain a minimum inventory of fuel. This measure is intended to prevent supply shortages that lead to higher gasoline prices for consumers and increased profits for the industry. Additionally, the bill would empower the California Energy Commission to require refiners to plan for resupply during maintenance outages.
Governor Gavin Newsom expressed his gratitude towards the Assembly for their support: “I’m grateful to the Assembly for joining with me in our efforts to prevent gas price spikes and save Californians money at the pump. Just last year, price spikes cost Californians more than $2 billion – forcing many families to make tough decisions like choosing between fueling up or putting food on the table. This has to end, and with the legislature’s support, we’ll get this done for California families.”
Assembly Speaker Robert Rivas (D-Salinas) also commented on the passage of the bill: “I thank my Assembly colleagues for returning this special session to closely vet today’s proposals and ensure the public has a voice in this process. It’s the right thing to do, and it has made for stronger and smarter policy. Now, these bills not only require oil companies to maintain minimum fuel reserves to stabilize gas prices, but they also protect industry workers and frontline communities. We delivered an important and needed solution. But our work is far from over, and we will continue to fight to lower the cost of living in our state for all Californians.”
Supporters of ABx2-1 include mayors, local leaders, consumer organizations, environmental advocates, labor groups, business leaders, and consumer groups. Last week, Governor Newsom met with supporters to discuss how gasoline price spikes impact millions of Californians’ daily lives and shared why this plan is essential for helping California families.
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