California gas crisis risks $8 per gallon and rationing: lawmakers
New York Post • • business
Key Points:
- California's gas prices could surpass $8 per gallon by 2026 due to Governor Gavin Newsom's environmental policies and global oil market instability, risking a return to fuel rationing reminiscent of the 1970s.
- State Senators Suzette Valladares and Tony Strickland criticize the cap-and-invest program and associated green taxes, arguing these policies increase gas costs by over $1 per gallon and threaten economic stability by reducing refinery capacity.
- California's gas prices currently average $4.81 per gallon, significantly higher than the national average of around $3, due to higher state taxes, unique fuel blend requirements, and climate program fees.
- The California Air Resources Board's stricter greenhouse gas limits may add an additional $1.
