In a significant move aimed at alleviating the financial burden on California consumers, state lawmakers have introduced ABX2-1, a landmark bill designed to regulate the gasoline market and hold oil companies accountable for price spikes. The bill, co-authored by Assembly Majority Leader Cecilia Aguilar Curry, Senator Skinner, and others, emerged from over 20 hours of discussions and hearings since the governor convened a special session on August 31.

The legislation seeks to empower the California Energy Commission (CEC) to enforce regulations that ensure oil companies maintain adequate gas supplies during refinery shutdowns. This proactive approach is expected to save Californians an estimated $1 billion at the pump by preventing sudden price increases that have historically occurred during maintenance periods.

Key provisions of ABX2-1 stipulate that no new regulations will be implemented unless they demonstrably lower gasoline prices for consumers. The bill prioritizes worker safety and aims to protect frontline communities, reflecting a collaborative effort among lawmakers and the administration.

Senator Skinner emphasized the bill's importance, noting that it addresses the alarming price spikes that have seen gas prices soar by as much as $50.75 per gallon, impacting household budgets significantly. The legislation builds on previous efforts, including last year's SBX 12, which established transparency measures for the gasoline market.

With broad public support, ABX2-1 represents a critical step toward ensuring accountability in California's gasoline market and providing much-needed relief to working families across the state.