Newsom rejects suspending California gas tax as petrol prices hit $6.16
Updated
Updated · New York Post · May 8
Newsom rejects suspending California gas tax as petrol prices hit $6.16
9 articles · Updated · New York Post · May 8
At a state Capitol hearing, he blamed President Trump and the Iran war for pump costs, while California’s average stood at $6.16 a gallon versus $4.54 nationally.
Economist Severin Borenstein said a temporary tax holiday could give immediate relief, but critics argued state fuel taxes, environmental mandates and refinery shutdowns are the main drivers of California’s premium.
Supply risks are worsening as California relies more on imported crude, including through the Strait of Hormuz, while industry executives warn prices could rise further and local production keeps shrinking.
Can California's green ambitions survive a crisis fueled by its deep reliance on foreign oil?
What is the 'mystery surcharge' costing drivers billions, and can a refining oligopoly explain it?
With the Strait of Hormuz closed, how will this historic disruption reshape the global economy?