Publicly available gas price data from sources like the U.S. Energy Information Administration or California Energy Commission

California Air Board Votes 12-2 for Stricter Fuel Standards; Gas Prices May Rise by 85 Cents

Nov 9, 2024, 05:38 AM

The California Air Resources Board (CARB), appointed by Governor Gavin Newsom, has approved stricter regulations under its Low Carbon Fuel Standard (LCFS) program, aimed at reducing emissions from transportation fuels. The decision was made after a 12-hour meeting that concluded at 9:30 pm on Friday night with a 12-2 vote. Critics argue that the new regulations will significantly increase gas prices in California, with estimates suggesting an increase of between 60 to 85 cents per gallon by 2030. Households in California already spend an average of $3,200 per year on fuel, and concerns have been raised about the disproportionate impact on lower-income families who can least afford higher costs. California, which already has some of the highest gas prices in the nation, faces additional strain as the new rules are expected to exacerbate fuel expenses. Despite objections from various groups, including environmentalists and the oil industry, and accusations of a lack of transparency, CARB proceeded with the overhaul of the program. The move is part of California's broader efforts to combat climate change and reduce greenhouse gas emissions, aiming to make the state a frontrunner in promoting low-carbon initiatives.