California could impose a new tax on oil companies. Here’s what you should know | State and regional

Few things upset drivers — and make politicians sweat — like rising prices at the pump.

Gas prices in California are consistently higher than the rest of the country, thanks to state taxes, cleaner fuel blends, an isolated gas refining market and more. But in September, prices in California jumped even higher and that gap widened.

Gov. Gavin Newsom pointed the finger at the natural gas industry when he spoke to reporters in early October, saying the companies were “insulting” drivers and calling for a new “windfall” tax on oil companies.

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Windfall tax is a checkered past

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So how would it work?


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