California Public Resources Code Section 25355.7 requires the California Energy Commission (CEC) and California Department of Tax and Fee Administration (CDTFA) to prepare a report every year to review the price of gasoline in California and the effect on state revenues. This report looks at information collected by the CEC through the Petroleum Industry Information Reporting Act of 1980, as modified by Senate Bill X1-2 (Skinner, Chapter 1, Statutes of 2023) Energy: transportation fuels: supply and pricing: maximum gross gasoline refining margin and Senate Bill 1322 (Allen, Chapter 374, Statutes of 2022), and information collected by CDTFA through the records request authority provided by SB X1-2. The information collected is used for analyzing trends that influence the price of gasoline, which in turn affects state revenues. Staff from both agencies also analyzed other data sources to provide a more comprehensive discussion of gasoline prices in California.
Topics included in this report:
Update on refinery operations and retail fuel outlets
Tax revenue
Retail prices
Wholesale market
Refiner margins
Price spikes, price volatility, and the mystery gasoline surcharge
Author(s)
Eric Anderson – California Department of Tax and Fee Administration, Gentian Droboniku – California Department of Tax and Fee Administration, Reid Johnsen – California Department of Tax and Fee Administration, Liang Ma – California Department of Tax and Fee Administration, Jamie Mason – California Department of Tax and Fee Administration, Bryan Neff – California Energy Commission, Varsha Sarveshwar – Division of Petroleum Market Oversight, Esther Shears – Division of Petroleum Market Oversight
