Chevron Warns Newsom's Fuel Proposal Could Increase Gas Prices; CARB May Raise Prices by 65¢ After Election

Oct 10, 2024, 07:57 PM

Chevron has sent a letter to California lawmakers ahead of a Senate vote on Governor Gavin Newsom's oil supply proposal, expressing concerns that the plan to force refineries to store large amounts of gasoline will increase fuel prices. The letter criticizes the proceedings as political posturing and refutes claims that the industry is engaging in price gouging. Meanwhile, the California Air Resources Board (CARB) is considering new fuel standards that could raise gasoline prices by up to 65 cents per gallon, potentially adding to the already high costs in the state. The proposed increase could occur three days after the election.