The California State Senate has passed Governor Gavin Newsom’s plan to tackle gas price gouging by oil companies.
The plan, which was supported along Democratic party lines, gives the California energy commission the authority to set a cap on how much oil companies can profit and penalize them if they exceed it.
Republican senator Kelly Sierato expressed concern about creating another regulatory body and the lack of accountability for lawmakers.
However, Democratic senator Susan Rubio said that the new version of the bill addresses her concerns and that there will be audits to ensure effectiveness and accountability.
If passed on the Senate floor, the bill could be on the governor’s desk by next week.
The money collected from fines will go into a fund that lawmakers can access to address issues arising from price gouging.
