Please ensure Javascript is enabled for purposes of website accessibility

West Bank Town Becomes ‘Big Prison’ as Israel Fences It In

3 days ago

Trump Says He’s Willing to Let Migrant Farm Laborers Stay in US

3 days ago

US Electric Vehicle Tax Breaks Will Expire on Sept. 30

4 days ago

Eyeing Arctic Dominance, Trump Bill Earmarks $8.6 Billion for US Coast Guard Icebreakers

4 days ago

Trump’s Sweeping Tax-Cut and Spending Bill Wins Congressional Approval

4 days ago

Americans Celebrate Their Independence With Record-Breaking Travel Numbers

4 days ago

US Supreme Court to Decide Legality of Transgender School Sports Bans

4 days ago

Nvidia Set to Become the World’s Most Valuable Company in History

4 days ago

Poll: 41% in US ‘Extremely Proud’ to Be American, Near Historic Low

4 days ago
California Threatens Chevron for Withholding Gas Pricing Data
gvw_ap_news
By Associated Press
Published 2 years ago on
March 15, 2023

Share

Getting your Trinity Audio player ready...

Chevron said on Tuesday it reported how much money it made in January from selling gasoline in California, disclosing the data after regulators threatened to fine the company for not following a new law aimed at investigating the cause of the state’s high gas prices.

The law requires oil companies to report their monthly “gross refining margin,” the difference between how much refineries paid for crude oil and how much the company sold it for as gasoline. State lawmakers and regulators believe the data will give them a clearer picture of what has driven sharp increases in California’s gas prices, which are consistently the highest in the nation.

Chevron spokesperson Ross Allen said the company filed a “revised response” late Tuesday afternoon with regulators that included the data required by law. He said the company was never out of compliance with the law, noting they began reporting the data March 2 — the deadline for oil companies to report January pricing data — and supplied the rest of the information after seeking clarification from the California Energy Commission.

“Since the statutory guidance was unclear, rather than speculate and supply inconsistent and potentially inaccurate data, Chevron exercised its statutory right to object and seek clarification in a timely manner,” Allen said.

State law requires much of the data to remain confidential. Representatives with the Energy Commission did not respond late Tuesday afternoon to confirm if Chevron had filed the data.

Gas in California is always more expensive because the state has higher taxes and fees than other states and requires a special blend of fuel that’s better for the environment but more expensive to produce.

Last summer, however, the average price of a gallon of gasoline in California was more than $2.60 higher than the national average, a difference that regulators and state lawmakers said was too large to be explained by taxes and fees.

Gov. Gavin Newsom has accused the state’s big five oil companies of price gouging. He has asked the state Legislature to pass a first-in-the-nation law that would penalize oil companies once their profits surpassed a certain threshold.

The proposal is still pending in the state Legislature. But starting in January, a new law required oil companies to disclose more data about their pricing. That data could serve as the threshold for any new penalties on oil profits in the future.

Of the big five oil companies that provide 97% of the state’s gasoline, four of them met the March 2 deadline for reporting January pricing data: Marathon Petroleum Corporation, PBF Energy Inc., Phillips 66 and Valero Energy Corp., according to the California Energy Commission, which collects the data.

‘Small Fraction’ of Data Submitted

Chevron only submitted a “small fraction of the data required,” according to the commission, and objected to reporting anything else. The California-based company accounts for about 30% of all gasoline sold in the state, giving it the largest share of the market.

In a letter to the Energy Commission dated March 2, Chevron attorney Melissa Sladden asked the commission to delay enforcing the law in favor of a lengthy rule-making process to clarify which data must be reported. Sladden said the data required by the law “paints a false picture of actual refinery profit margins by significantly undercounting refinery costs.”

“Getting this term right is doubly important as it is currently being contemplated by legislators as a measure on which to impose a tax on refiners,” Sladden wrote. “Legislating or regulating based on inaccurate data could result in unintended consequences, such as decreased investment in gasoline production and higher long-term prices at the pump.”

Regulators responded by warning Chevron that the company had until Tuesday to disclose the data or face penalties, which could include fines of up to $2,000 per day.

Allen said Chevron was “disappointed” that their letter to the Energy Commission that objected to disclosing the data was made public. He said the law and the commission’s information request “falls short of the transparency and trust that should inform good policymaking.”

The dispute reflects a larger conflict between the oil industry and Newsom, who is just beginning his second term and is seen as a possible presidential candidate one day. Newsom has pushed aggressive climate policies, including banning drilling new oil wells within homes, schools and community sites.

The oil industry is one of the most powerful lobbying groups in the state, donating lots of money to state lawmakers’ political campaigns. The industry is backing a referendum to overturn the ban on drilling oil wells near sensitive sites. And Newsom’s proposal to penalize oil companies for making too much money has made little progress so far in the state Legislature, with several Democrats voicing concerns about it during a public hearing last month.

State Sen. Ben Allen, a Democrat from Santa Monica who authored the law requiring oil companies to disclose more pricing data, said before the latest Chevron filing that it was “disappointing” the company had not disclosed the data.

“The fact that all of the other industry players were able to do it and they weren’t, I just don’t know what’s going on with them,” he said. “We’re going to hold them accountable.”

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

How Trump’s ‘Big, Beautiful Bill’ Will Make China Great Again

DON'T MISS

What’s Caitlin Clark Worth to the WNBA? A Lot More Than Her $78,066 Salary.

DON'T MISS

Trump to Sign Tax-Cut and Spending Bill in July 4 Ceremony

DON'T MISS

Madre Fire Spurs Evacuations Across 3 Counties, Grows to More Than 70,000 Acres

DON'T MISS

Clovis, Sanger, Madera, and Bass Lake Will Light the Sky With Fireworks Shows Tonight

DON'T MISS

Oil Dips Ahead of Expected OPEC+ Output Increase

DON'T MISS

613 Killed at Gaza Aid Distribution Sites, Near Humanitarian Covoys, Says UN

DON'T MISS

Fresno County Authorities Investigating Suspicious Death of Transient Man

DON'T MISS

West Bank Town Becomes ‘Big Prison’ as Israel Fences It In

DON'T MISS

Israeli Military Kills 20 in Gaza as Trump Awaits Hamas Reply to Truce Proposal

UP NEXT

Madre Fire Spurs Evacuations Across 3 Counties, Grows to More Than 70,000 Acres

UP NEXT

Madre Fire Burns More Than 52,000 Acres in San Luis Obispo County

UP NEXT

Americans Celebrate Their Independence With Record-Breaking Travel Numbers

UP NEXT

San Luis Obispo’s Madre Fire Grows to 35,000 Acres, More Evacuations Ordered

UP NEXT

Nvidia Set to Become the World’s Most Valuable Company in History

UP NEXT

Poll: 41% in US ‘Extremely Proud’ to Be American, Near Historic Low

UP NEXT

Del Monte Files for Bankruptcy. Gets Nearly $1B to Keep Producing Through Process

UP NEXT

CHP Officer Dies in Line of Duty After Medical Emergency While on Patrol

UP NEXT

Downtown Housing Could Rise in Many California Cities, but Barriers Remain

UP NEXT

Trump Pulls Back 150 Guard Troops From Federal Duties in California

Trump Calls Musk’s Formation of New Party “Ridiculous” and Confusing

10 hours ago

Fresno DUI Driver Slams Into CHP Motorcycle, Tow Truck on Highway 99

16 hours ago

Russia Downs 120 Ukrainian Drones Overnight, Defense Ministry Says

17 hours ago

Israel Sends Delegation to Qatar for Gaza Talks Ahead of Netanyahu Trip to US

17 hours ago

San Luis Obispo’s Madre Fire Grows to Nearly 80,000 Acres, 30% Contained

17 hours ago

Musk Announces Forming of ‘America Party’ in Further Break From Trump

17 hours ago

Death Toll From Texas Floods Reaches 59, Including 21 Children

17 hours ago

California’s Politics Drifts Right While New York’s Leans Left

17 hours ago

How Trump’s ‘Big, Beautiful Bill’ Will Make China Great Again

2 days ago

What’s Caitlin Clark Worth to the WNBA? A Lot More Than Her $78,066 Salary.

2 days ago

TikTok Building New Version of App Ahead of Expected US Sale, the Information Reports

TikTok is building a new version of its app for users in the United States ahead of a planned sale of the app to a group of investors, The I...

10 hours ago

A logo is displayed over a door at the U.S. headquarters of the social media company TikTok in Culver City, California, U.S. January 17, 2025. (Reuters File)
10 hours ago

TikTok Building New Version of App Ahead of Expected US Sale, the Information Reports

Boxes of aid are stacked as Gaza Humanitarian Foundation said it has commenced operations to begin distribution of aid, in Rafah, in the southern Gaza Strip, May 26, 2025. (Reuters File)
10 hours ago

Hamas Government Office Rejects US Accusation of Involvement in Gaza Aid Site Attack

A volunteer searches for flood victims after deadly flooding in Kerr County, Texas, U.S., July 6, 2025. REUTERS/Sergio Flores
10 hours ago

Death Toll From Texas Floods Reaches 78, Trump Plans Visit

Tesla CEO and X owner Elon Musk listens as US President-elect Donald Trump speaks during a meeting with House Republicans at the Hyatt Regency hotel in Washington, DC, U.S. on November 13, 2024. (Reuters File)
10 hours ago

Trump Calls Musk’s Formation of New Party “Ridiculous” and Confusing

A 22-year-old suspected DUI driver crashed into a parked CHP motorcycle and tow truck on Highway 99 near Fresno, narrowly missing an officer and bystanders, CHP said Saturday, July 5, 2025. (CHP)
16 hours ago

Fresno DUI Driver Slams Into CHP Motorcycle, Tow Truck on Highway 99

A service member of a drone unit of the 24th Separate Mechanized Brigade named after King Danylo of the Ukrainian Armed Forces controls a heavy combat drone while it flies over positions of Russian troops, amid Russia's attack on Ukraine, in Donetsk Region, Ukraine June 12, 2025. (Reuters File)
17 hours ago

Russia Downs 120 Ukrainian Drones Overnight, Defense Ministry Says

An Israeli tank maneuvers in Gaza, as seen from the Israeli side of the border, July 6, 2025. (Reuters/Amir Cohen)
17 hours ago

Israel Sends Delegation to Qatar for Gaza Talks Ahead of Netanyahu Trip to US

The Madre Fire near New Cuyama has burned nearly 80,000 acres as of Sunday, July 6, 2025, morning, prompting widespread evacuation orders and warnings across three counties. (CalFire)
17 hours ago

San Luis Obispo’s Madre Fire Grows to Nearly 80,000 Acres, 30% Contained

Help continue the work that gets you the news that matters most.

Search

Send this to a friend