New legislation takes aim at California’s oil refiners by mandating profit disclosures on gasoline sales.
While Californians watch their average gas prices surge to over $5.70 a gallon, consumer advocates are demanding new disclosuresState Sen. Ben Allen, a Santa Monica Democrat, has introduced, which would require oil refiners to disclose the average price they pay for crude oil along with the profit margins on the gasoline they sell every month.
Jamie Court, president of the advocacy group Consumer Watchdog, which is pushing for the legislation, said a mandated profit disclosure will fill a data void to help policymakers understand why California drivers are paying billions extra in gas costs and where the money is going. “They’re using human suffering of war to get out there and make wild claims,” he said, arguing the mystery surcharge is an “elusive number” not based on higher profit margins.
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