Gov. Newsom tries to cap oil companies' profits, but will it create relief at the pump?

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Newsom's plan is to create a watchdog group to monitor gas prices in California and force penalties on refiners for overcharging. But, experts say don't expect any relief at the pump any time soon.

Governor Newsom's plan is to create a watchdog group to monitor gas prices in California and force penalties on refiners for overcharging.After months of promising to take on big oil, Governor Gavin Newsom announced Monday that he's reached a deal with Sacramento lawmakers.

He points to the state's high gas taxes, as well as other regulations and fees, that ultimately lead to higher prices at the pump.

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