SACRAMENTO, Calif., Oct. 14, 2024 — Consumer Watchdog praised Governor Newsom’s signing of California’s new minimum gasoline inventory law, ABX2-1, as a significant step in preventing California gasoline price surges. The group urged other states to adopt similar measures.

“Ensuring adequate gasoline reserves during refinery maintenance periods is crucial to preventing price spikes in California,” stated Consumer Watchdog president Jamie Court. “Governor Newsom’s swift action in calling a special session to ensure this consumer protection takes effect in 2025, rather than 2026, is commendable. States like Washington, seeking to combat refinery profiteering, should consider implementing similar safeguards. The legislature’s approval of the law, despite opposition from Chevron and other major refiners responsible for 90% of California’s gasoline, sends a clear message that California won’t tolerate the practices that have led to price spikes for decades. This issue has been recognized since the 2000 Attorney General Gas Pricing Taskforce, but this is the first time a Governor has directly challenged big oil refiners to ensure fair play. Governor Newsom’s willingness to break the long-standing taboo in Sacramento against confronting Big Oil deserves recognition. Other states should be encouraged to follow California’s lead.”

Further information on how ABX2-1 can potentially save Californians $1 billion or more annually and the efforts leading to its passage is available.

SOURCE Consumer Watchdog