New Legislation Intended to Prevent Price Manipulation by Big Oil
Assembly Speaker Fabian Nunez said today he will introduce legislation to stop oil refineries from manipulating prices. Nunez plans to introduce a bill that ensures refineries remain operational and prevents oil companies from increasing gas prices when refineries shut down for maintenance.
California Energy Office spokeswoman Susanne Garfield says problems at the state's refineries are responsible for pushing up gas prices this spring.
Garfield : We either have to import additional supplies or blend as much as we can in-state. We are isolated by time and distance from the rest of the market.
Oil industry officials say they are frequently accused of manipulating the market, but it has never been proven by government investigators. The average price of gas in San Diego is now $3.46 a gallon.
