Gas prices per gallon are getting higher across the U.S., but prices in California are soaring higher than any other state. But much of what has driven up gas prices over the past several months is outside of California lawmakers’ control.
for gas distribution and retail than other states, Borenstein, the Berkeley economist, has found. Far more gasoline in California “flows through stations that are owned by refiners or have long-term contracts that give the refiners significant control over gas prices,” he wrote. That could make it even more likely that sellers pocket some of the savings of a gas tax break for themselves.
While the war is affecting the gas supply, a gas tax cut could mean more profits for gas sellers, and less of a price reduction.In addition to the question of just how much tax breaks would actually save consumers, Borenstein said reducing or getting rid of the gas tax would be bad policy. “We need gasoline prices to reflect the real costs to society,” said Borenstein, referring to the negative effects of greenhouse gas emissions, air pollution, as well as costs of cars hitting other cars, bikers, or pedestrians. When you add up all those costs,During hison Tuesday, Newsom unveiled another idea for helping Californians with high gas prices. Or, at least, the germ of an idea.
“I’ll be submitting a proposal to put money back in the pockets of Californians to address rising gas prices,” he said. The proposal will be a tax rebate and give billions of dollars to Californians, a spokesperson for the governor said, though it’s not clear yet who exactly will get the money and how much they will get.
The money may be tied to owning a car that’s registered with the state, said Dee Dee Myers, an economic advisor to Newsom. People who have switched to other modes of transit to reduce their carbon footprint
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