California plans to fine oil companies for inflated fuel prices

California Gov. Gavin Newsom called on state lawmakers to decide whether to impose the first U.S. fine on oil companies for price gouging. The initiative immediately had opponents who believe that fines will have the effect of increasing prices even more, and only drivers will suffer from this. This move is due to the fact that California has the highest gasoline prices in the United States. This is because California has higher taxes and fees, as well as its own requirements for the environmental friendliness of gasoline, which makes its production more expensive.

Currently, the average cost of a gallon of gas in California is $4,89, according to AAA.