As California lawmakers advance a bill that could ultimately punish oil companies for excessive profits, the state’s attorney general says that the legislative action will help hold oil companies accountable.
Gov. Gavin Newsom took action Feb. 6 urging the federal government to investigate the recent price spike affecting the Western U.S. and highlighted the state’s action to provide relief to Californians.
Gasoline prices dipped to just under the $4 mark for the first time in more than five months — good news for consumers who are struggling with high prices for many other essentials.
At a gas station near the Cologne, Germany, airport, Bernd Mueller watches the digits quickly climb on the pump: 22 euros ($23), 23 euros, 24 euros. The numbers showing how much gasoline he’s getting rise, too. But much more slowly. Painfully slowly.
House Democrats on Wednesday accused oil companies of “ripping off the American people” and putting profits before production as Americans suffer from ever-increasing gasoline prices during the war in Ukraine.