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Across Southern California, Gas Prices Are Finally Dropping
Gasoline prices are displayed at a gas station on Feb. 8 in Los Angeles.
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California's average gas prices are the lowest they've been since October 2022, at an average of $5.8 a gallon. The drop comes after Gov. Gavin Newsom ordered the California Air Resources Board on in late September to allow gasoline refineries to produce the cheaper winter blend.
It's a drop in average prices that recently stood at around $6.1 in the state and $3.8 in the country just weeks ago.
Typically, the cheaper winter blend is available in November.
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Newsom has been vocal in his suspicion of oil producers engaging in “price gouging” after they reported record profits following severe lows during the COVID-19 pandemic. Earlier this year, he pushed for and signed the country’s first gas price gouging law.
“California is delivering on our promise to hold Big Oil accountable,” Newsom said in a statement. “These new transparency laws will help us track refiners’ profits and shine a light on price manipulation so Californians aren’t vulnerable to the greedy whims of Big Oil.“
Doug Shupe, spokesperson for the Automobile Club of Southern California, has pointed to oil supply cuts in Saudi Arabia and Russia as well as the deadly flooding in Libya as some of the reasons behind the recent spike in gas prices.
Consumer experts have indicated that prices will continue to drop over the next few months until rebounding in Spring.
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