California’s Bold Move to Tame Gas Prices as Newsom Signs New Law

California Gov. Gavin Newsom has taken direct aim at soaring gas prices, signing Assembly Bill X2-1 into law. The new law, swiftly passed by state lawmakers, mandates oil refineries to maintain their stock levels aiming to prevent supply shortages that jack up costs at the pump.

As gas prices have skyrocketed in recent months, this new measure seeks to curb volatility and provide some relief to California drivers. By requiring oil refineries to keep a buffer of fuel on hand, Newsom hopes to smooth out the supply chain and prevent sharp price hikes—something Californians have felt acutely.