California Enacts Legislation to Monitor Gasoline Prices and Impose Penalties on Refiners

On March 28, 2023, Governor Gavin Newsom signed into law SBX1-2, which gives the California Energy Commission (CEC) new powers to monitor the gasoline market and impose penalties on refiners who charge more than a maximum margin for refining gasoline.

The bill also imposes new reporting requirements on pipelines, port operators, and refiners. (For additi…