Assembly advances Governor Newsom’s special session proposal to stop gas price spikes

News

Oct 1, 2024

What you need to know: The Assembly passed Governor Newsom's proposal to prevent gasoline price spikes in the special session called by the Governor. The proposal now heads to the Senate.

SACRAMENTO - Today, the California Assembly advanced Governor Gavin Newsom's special session proposal to prevent gasoline price spikes.

The Assembly passed ABx2-1, authored by Assemblymembers Gregg Hart and Cecilia Aguiar-Curry. The bill allows the state to require oil refiners to manage a minimum inventory of fuel to avoid supply shortages that create higher gasoline prices for consumers - and higher profits for the industry. It would also authorize the California Energy Commission to require refiners to plan for resupply during refiner maintenance outages.

The measure now heads to the Senate for consideration.

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.

Governor Gavin Newsom

"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," said Assembly Speaker Robert Rivas (D-Salinas). "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 the bill include mayors, local leaders, consumer organizations, environmental advocates, labor, business leaders and consumer groups. Last week, the Governor and supporters met and discussed how gasoline price spikes affect millions of Californians' everyday lives, and shared why this plan will help California families.

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