Don’t blame Democrats for higher fuel costs! Investor data from Consumer Watchdog has revealed that California oil refiners have tripled their average annual profits in 2022. These profits resulted from Californians paying at least $2.40 more per gallon than fuel customers in the rest of the nation! Oil refiners are raking in $1.00 per gallon in profits from California customers. This is overt price gouging!
Republicans are using these high fuel costs to stoke the anger of California consumers toward Democrats during the midterm elections. If anyone is to blame for high fuel costs, it is fossil fuel refiners who heavily subsidize Republicans. Don’t let Republicans fool you!
The response of Governor Newsom has been swift. He is holding California refiners accountable, and is calling a special legislative session to address these windfall profits. The plan is to set a 50 cent per gallon cap on California’s five largest oil refiners. Under the new legislation, quarterly profits must be reported, and refiners would need to give any excess back to drivers. Thank you to our Democratic Governor Newsom!