Los Angeles Daily News: Bill seeks profit transparency from California oil refiners
Russia’s invasion into Ukraine has pushed California’s gas prices to record levels, but a local lawmaker wants to know why Golden State prices are routinely so much higher than the rest of the nation… Allen conceded that California’s environmental standards and voter-approved gas tax have boosted fuel costs. But prices spiked dramatically following a 2015 explosion at an ExxonMobil refinery in Torrance, he said, and they’ve never fully retreated.
“They went up $1.50 a gallon after that explosion, but they only came back down $1,” he said. “So there’s a 50-cent surcharge that oil companies have been profiting from ever since. We want to get to the bottom of that.”
