On Tuesday, Governor Gavin Newsom signed a bill into law that empowers state regulators to impose penalties on oil refiners for excessive gasoline prices charged to California drivers.
The bill was approved by the state legislature on Monday, marking a significant victory for the state's efforts to reduce greenhouse gas emissions and fight climate change.
The bill's passage means that state regulators can now ensure that oil refiners do not exploit consumers by charging unreasonably high prices for gasoline. The governor praised the bipartisan support for the bill and thanked lawmakers and environmental groups for their efforts in pushing it through.
The governor's action came in response to complaints from Californian drivers, who had been paying an average of $2.60 more per gallon of gasoline than the national average. The new law is expected to ease the burden on consumers, who have been hit hard by soaring gas prices.
