Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    StockNews24StockNews24
    Subscribe
    • Shares
    • News
      • Featured Company
      • News Overview
        • Company news
        • Expert Columns
        • Germany
        • USA
        • Price movements
        • Default values
        • Small caps
        • Business
      • News Search
        • Stock News
        • CFD News
        • Foreign exchange news
        • ETF News
        • Money, Career & Lifestyle News
      • Index News
        • DAX News
        • MDAX News
        • TecDAX News
        • Dow Jones News
        • Eurostoxx News
        • NASDAQ News
        • ATX News
        • S&P 500 News
      • Other Topics
        • Private Finance News
        • Commodity News
        • Certificate News
        • Interest rate news
        • SMI News
        • Nikkei 225 News1
    • Carbon Markets
    • Raw materials
    • Funds
    • Bonds
    • Currency
    • Crypto
    • English
      • العربية
      • 简体中文
      • Nederlands
      • English
      • Français
      • Deutsch
      • Italiano
      • Português
      • Русский
      • Español
    StockNews24StockNews24
    Home » California Fuel Prices Estimated To Surge By 50 Cents Per Gallon Based on Demand
    DAX News

    California Fuel Prices Estimated To Surge By 50 Cents Per Gallon Based on Demand

    userBy userNovember 15, 2024No Comments2 Mins Read
    Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    California drivers could face rising gas prices next year following a decision by state regulators to tighten fuel standards aimed at reducing pollution and decreasing reliance on fossil fuels.

    The California Air Resources Board (CARB) approved the updated standards on Friday, establishing ambitious goals to cut emissions from fuel by 30% by 2030 and 90% by 2045.

    “The low carbon fuel standard has already successfully created lower-cost, lower-carbon alternatives, and the benefits of the proposal vastly outweigh those costs,” Steven Cliff, CARB’s executive officer, stated last month.

    CARB estimates that the stricter standards may increase gas prices by approximately 47 cents per gallon by 2025.

    However, a study from the University of Pennsylvania suggests the price hike could be more significant, potentially reaching 65 cents per gallon in 2025, 85 cents by 2030, and nearly $1.50 by 2035.

    The decision has drawn sharp criticism, particularly from Republican leaders in the state.“Today’s vote is nothing short of blatant price gouging by the Newsom Administration,” said Senate Minority Leader Brian Jones (R-San Diego).

    California gas prices may soar even higher next year (Photo: Luis Sinco)

    “The Air Resources Board’s 65-cent gas price hike is a direct assault on hardworking Californians… [who] are forced into electric vehicles against their will.”

    Assembly Minority Leader James Gallagher (R-Yuba City) shared similar concerns.

    “Californians can’t afford higher gas prices. Democrat politicians have blocked every attempt to stop this spike, and they’ll have to answer to angry constituents when prices go up again,” Gallagher said.

    On Monday, the average price for a gallon of regular unleaded gasoline in California stood at $4.51, according to AAA, making it the second-highest in the nation, trailing only Alaska.

    In 2019, the Trump administration rescinded California’s authority to set its own tailpipe emissions standards. President Joe Biden later reinstated the state’s rights, a decision that was upheld in federal court.

    The CARB vote occurred a day after Governor Gavin Newsom convened a special legislative session to safeguard California’s environmental and liberal policies, preparing for potential challenges under former President Donald Trump’s anticipated second term.



    Source link

    Share this:

    • Click to share on Facebook (Opens in new window) Facebook
    • Click to share on X (Opens in new window) X

    Like this:

    Like Loading...

    Related

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleAs Trump return looms, China’s Xi at APEC criticises protectionism By Reuters
    Next Article 3 Stocks She Just Bought
    user
    • Website

    Related Posts

    20 Cars That Handle the California Heat Effortlessly

    December 17, 2024

    10 Affordable Pickup Trucks Ideal for Small Business Owners

    December 17, 2024

    10 SUVs Perfect for Outdoor Adventures in National Parks

    December 17, 2024
    Add A Comment

    Leave a ReplyCancel reply

    © 2025 StockNews24. Designed by Sujon.

    Type above and press Enter to search. Press Esc to cancel.

    %d