Gov. Gavin Newsom took to Twitter earlier this week to crow about California ’s “first-in-the-nation” gas price-gouging law designed to prevent oil companies from overcharging consumers.
“A NEW independent watchdog — The Division of Petroleum Market Oversight — will monitor the industry to help ensure you’re not being ripped off,” Newsom tweeted. “Time to hold oil companies accountable.”
The legislation, which was signed into law in March and went into effect on Monday, requires refineries to send daily reports to the petroleum oversight division — all to protect consumers by shining “a light on price manipulation so Californians aren't vulnerable to the greedy whims of Big Oil," in Newsom’s words.
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