Saturday, December 3, 2022
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Gavin Newsom Gas Price Premium

Cash-strapped Americans have been relieved by falling gasoline prices in recent weeks, but not Californians. The average price of gasoline in the Golden State this week rose to $6.29 a gallon, $2.50 more than the national average, and it’s worth distilling the reasons from the governor. Gavin Newsom wants to export the energy policies of the state to the entire country.

Gas prices in California have long been higher than the national average due to hefty fuel taxes and weather regulations, but the gap is now the largest in at least two decades. The taxes add about 66 cents to the price of a gallon, about twice as much on average as in other states. California’s cap-and-trade program and low-carbon fuel standard add about another 46 cents per gallon.

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