Gas prices: Gov. Hobbs asks California Gov. Newsom to hold off on oil company regulations

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Arizona Governor Katie Hobbs says a decision in California could affect gas prices here. It’s why she co-authored a letter to California Governor Gavin Newsom asking him to kill a bill that would cut the supply of gasoline.

Arizona Governor Katie Hobbs says a decision in California could affect gas prices here.It’s why she co-authored a letter to California Governor Gavin Newsom asking him to kill a bill that would cut the supply of gasoline.Newsom wants to regulate the oil companies and force them to maintain a minimum level of gas in their inventory so that they can’t spike the price when the supply drops.

"Hobbs and Lombardo say Arizona and Nevada are reliant on California pipelines for significant amounts of fuel. They believe the new rules would keep more gas in California, creating gas shortages in the Sun Belt."By mandating those inventory reserves, that could really threaten and decrease supplies coming into Arizona," said Blaise Caudill, energy policy advisor for the governor’s office. "Once you decrease those supplies coming into the state, then prices could rise.

 

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