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Gas prices at a station in Northridge on March 9, 2026. Gas prices have recently increased in the state as the U.S. war with Iran intensifies.
Zin Chiang
/
CalMatters
California built a first-in-the-nation system to police refinery profits during price spikes, but regulators delayed its rollout for five years. Now gasoline prices have surged to record highs as global oil markets spike amid the Iran war. The latest surge is also exposing a deeper problem: fewer refineries and a limited fuel supply in California.
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