CEC and Refiners Trade Letters as Gasoline Price Inquiry Begins
Refiners denied market manipulation and argued that California’s environmental regulations and fuel requirements are largely responsible for the price increase.
The California Energy Commission (CEC) sent a letter to executives of the top refineries in California on September 30, 2022 demanding explanations for the “sudden and unprecedented” increase in gasoline prices over the past 10 days. (See Newsom Directs CARB to Allow Early Release of Winter-Blend Gasoline.)
In their responses, refiners denied price gougi…