SACRAMENTO – California drivers are reaping a holiday season bonus with gas prices at their lowest in three years. The California Energy Commission (CEC) reports that the average price of gasoline in 2024 is 20 cents lower than last year and 70 cents lower than 2022. This drop is saving drivers $2.5 billion compared to 2023 and $9.3 billion compared to 2022.
State officials attribute the decline to new laws championed by Governor Gavin Newsom, aimed at increasing transparency and accountability in the petroleum industry. These measures are designed to stabilize prices, with the CEC outlining additional strategies to prevent future price spikes and maintain relief for drivers.
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