California's gasoline market is fraught with complexities, deeply impacted by taxes and regulation mandates, which Governor Gavin Newsom has criticized, labeling refiners as price gougers.
The California Air Resources Board is set to enhance its Low Carbon Fuel Standard aimed at reducing greenhouse gas emissions, but this could significantly hike gasoline prices in the coming years.
Refining carbon output in gasoline could lead to price increases of up to $1.15 per gallon by 2046, sparking media and political controversy over the proposed amendments.
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