NewsCovering California


California leaders calling for investigation into oil refineries

Posted at 10:05 AM, Oct 08, 2022
and last updated 2022-10-08 13:05:22-04

(KERO) — As gas prices continue to rise in California, Congressman Mike Levin along with 30 other democratic leaders in congress are calling on the Federal Trade Commission to investigate California's oil refineries for alleged market manipulation resulting in the state's soaring gas prices.

"According to the data from the CA Energy Commission, the amount of profit and the amount that refineries are charging is basically tripled from .64 cents to $2.18," said Levin.

Levin adds at least six oil refineries in the state have shutdown for maintenance leading to more pressure on the supply of fuel.

In a tweet, Governor Gavin Newsom said he is calling for a special session to address the greed of oil companies by enacting a windfall profit tax on the companies.

Last week, the governor approved the switch from the state's summer blend gas to the cheaper winter blend in an effort to reduce the price at the pump.

And according to AAA, the national average for a gallon of regular unleaded is $3.90.

Meanwhile, the state average for regular unleaded is $6.36 and here at home the average cost of gas in Kern County is only a couple cents cheaper at $6.33.