California Democrats to investigate cause of high gas prices

SACRAMENTO, Calif. (AP) – With California drivers paying more than $ 6 for a gallon of gas and state officials have been stuck for months on how to provide assistance, attorneys for the state on Monday will investigate oil companies they say are “destructive. a historic situation that reduces revenue from California’s pockets.”

Congressman Anthony Rendon has announced a bipartisan committee to look into raising the price of gas, with the intention of asking oil companies, regulators and the financial sector to see the because California’s gas price is the highest in the country.

California gas prices are currently the highest in the U.S., with the average price per gallon at $ 6.40 on Monday compared to the national average of $ 4.98.

“We put ourselves in a position because of our integration with the gas engine. But that’s not a reason for the actions of those who arrested California drivers with a foot on our necks and with hand in our bag, ”Rendon said.

Republicans mocked the lawsuit Monday, accusing Democrats of California’s high inflation rates because they refused to cut the tax code like other states have done. control costs. Democratic President Joe Biden said Monday he was considering easing the Federal gas taxa move that could save drivers 18.4 cents per gallon.

“Before passing the state gas tax, are the Sacramento Democrats forming a committee?” said Congressman Vince Fong, Republican vice chairman of the Legislative Committee. “Enough with politics. Abolish the gas tax now.

California Democrats have said they fear the gas tax hike will only benefit major oil companies, which state regulators have criticized before raising prices in a state. More than 36 million cars are registered on the road.

Catherine Reheis-Boyd, president and CEO of the Western States Petroleum Association, said Californians were paying more for fuel and said “it could be worse” if Government officials do not take responsibility and do nothing to reverse the damage. the combination of the prohibitions, ordinances and bad policies that they impose on our state. “

“This Legislature and the Governor should immediately address these policies before concluding councils calling for further inquiries whenever our department is seen to be acting responsibly. , “said Reheis-Boyd.

California’s gas prices have long been among the nation’s highest, requiring some research and preliminary questions by state officials – including the trial of former Attorney General Bill Lockyer, who angry when prices rose to $ 1.71 per gallon in San Francisco in 1999.

State, local, and federal taxes are 85 cents for every gallon of gas sold in the state, including oil prices, supplies, sales and revenues for consumers. worldwide, according to the California Energy Commission.

But a 2019 review State regulators believe large oil companies are “cheating and overcharging” customers as much as $ 1 per gallon, resulting in California having to pay another $ 11.6 billion in fuel over the next five years. compared with the states.

Gov. Gavin Newsom to the state attorney general’s trial, a trial that is pending about three years later.

Instead of eliminating the gas tax, California Democrats want to use the state’s remaining $ 100 billion to send money directly to taxpayers to help end the economy. high cost of fuel. But nothing came of it because the Democrats who control the state Legislature could not agree with Newsom on how to proceed.

Rendon, a Democratic Assembly spokesman, said lawmakers made progress over the weekend during a marathon discussion with driver Newsom. But “we’re not ready to make any announcements,” he said.

Republicans, meanwhile, held a news conference last week marking 100 days since Democrats vowed to take steps to fix high inflation. Republicans do not have enough seats in Congress to properly pass bills.

“We’re waiting without being seen,” said Republican leader James Gallagher. “We need to work now.”

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California Democrats to investigate cause of high gas prices Source link California Democrats to investigate cause of high gas prices

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