California lawmakers advance bill to prevent gas prices from spiking ...Middle East

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California lawmakers advance bill to prevent gas prices from spiking
source : News10NBC ( Middle East ) () 49
SACRAMENTO, Calif. (AP) — The California state Assembly approved a bill Tuesday backed by Gov. Gavin Newsom aimed at preventing gas prices from spiking, particularly in late summer months when demand for gas goes up. The legislation would authorize state energy regulators to set requirements for companies to maintain a certain level of fuel on hand — using existing storage to avoid gas prices from increasing suddenly when refineries go offline for maintenance. The state would have to determine first that the benefits of any minimum inventory rules outweigh the potential cost to consumers under the bill. “This bill incentivizes fuel refineries to plan proactively, saving Californians — consum

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