President Joe Biden has released 15 million barrels of oil from the country’s emergency oil reserve to reduce petrol costs. According to AAA, the national estimated cost of a gallon of petrol on Thursday is $3.84. As it is a slight decrease from the report on Wednesday.
The average price of petrol in California is $5.84 a gallon. Hence, it is $2 more than the national average.
Gov. Gavin Newsom, who is running for reelection, is blaming the oil and gas industry. So, it suggests a windfall tax on them. And it urges them to manufacture a less expensive winter mix of gas in California to down costs.
Politicians in California now have the highest petrol costs in the nation. Thus, it can only make themselves accountable, said opponents of the tax plan.
The California Energy Commission wrote to some big oil firms requesting an explanation for why gas prices in California kept rising. At the same time, prices throughout the country may appear to be levelling down.
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Soon after, Newsom started his attack, accusing oil firms of being selfish, raking in record profits, and defrauding consumers at the pump.
Companies like Phillips 66, Valero, and Chevron can assert that the state’s strict energy restrictions are bringing on this issue.
The governor may anticipate facing off against his Republican opponent Brian Dahle in the Sunday California debate for the midterm elections. So, during the discussion, Dahle can also anticipate criticising California’s energy policy.