Gas price gouging explained: California's efforts to protect drivers from sky-high prices
SACRAMENTO — California on Friday kicked off a series of discussions about the oil industry and the price at the gas pump.
Gas prices continue to fall across California, with the statewide average now around $5.18 a gallon. However, that's still around $1.75 higher than the national average.
Despite gas prices going down, undoubtedly, drivers are all feeling the squeeze at the pump.
On Friday, the California Energy Commission launched a series of talks about gas price gouging and transparency.
As we've seen over recent years, the price of crude oil, regional conflict and demand all affect prices. Sometimes, experts say planned and unplanned refinery maintenance also plays a major role.
The vice chair of the state Energy Commission doubled down on how this process will include transparency and accountability. However, many drivers want to know when could they see relief.
"Legislative intent here is to make sure we get to a reasonable process that allows for protecting consumers as quickly as we can," Vice Chair Siva Gunda said. "And as you noted, it will also take some time. So the first couple of years, we are looking at data transparency and the tools."
Meanwhile, for the past two years, the state has taken action to transition early in each year to the winter blend.
In the last month, the average price for regular unleaded gas fell by about $0.84. Still, the Energy Commission says it doesn't want to rely on short-term solutions.
Another big talker on Friday was price gouging. A new commission division is tasked with cracking down on oil companies.
However, some experts warn price spikes make up less than a tenth of what we pay at the pump. Their take: take a look at how distribution and retail work, which could create more competition and lower prices.
