Starting next year, a new law will force fuel distributors into the same cap-and-trade marketplace as utilities and major manufacturers. The oil industry says it will lead to price increases.
Gov. Jerry Brown authorized the state Air Resources Board to allow refineries to switch to winter-blend gasoline in an emergency effort to increase fuel production and reduce soaring gas prices.
Californians routinely pay some of the highest gas prices in the nation, and the current cost of a gallon at the pump is no exception. But, drivers who think they’re being unfairly exploited by the oil companies should think again – says one UC Berkeley economist, who points to many other reasons why the cost of fuel is so high.