Gavin Newsom’s Gas Price Premium

Cash-strapped Americans have been relieved by falling gas prices in recent weeks, but Californians have not. The average gas price in the Golden State rose to $6.29 a gallon this week — $2.50 more than the national average — and the reasons are worth digging into as Gov. Gavin Newsom wants to export the state’s energy policy nationwide.

California gas prices have long been above the national average due to high fuel taxes and climate regulations, but the difference is now the widest in at least two decades. Taxes add about 66 cents to the price of a gallon, on average about twice as much as in other states. California’s cap-and-trade program and low-carbon fuel standard add about another 46 cents per gallon. Gavin Newsom’s Gas Price Premium

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