California Focus: High time for action on gas gouging ...Middle East

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California Focus: High time for action on gas gouging
The gasoline price gouging that has plagued California periodically for decades appears no longer to be merely sporadic. It’s now a steady phenomenon. There was shock and indignation about 18 months ago, when California’s Big 5 gasoline refiners raised prices by more than $2 per gallon over a mere two days in February 2023, and kept them near $7 for weeks, before letting them slide into the $5-plus range where they mostly sit today. That resulted in windfall profits for those companies: Chevron, Marathon, PBF, Phillips 66 and Valero all set records for profits over the next two quarters. It also produced a special legislative session that created a new wing of the state Energy Commission to

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