Because of a California-specific blend of gasoline and a market moving away from fossil fuels, the state remains vulnerable to drastic price increases because policy makers haven't taken action to address the problem.
Banning Russian oil will affect West Coast gasoline prices more than those in other parts of the country because the West Coast uses more Russian oil.
Jaffe and other experts this week said a gasoline reserve, operated either by the state or by refineries themselves, could help reduce price spikes by stabilizing inventory. Many European countries, Japan and South Korea require refineries to keep certain inventory levels, something theOther countries “don’t wait for the trading community to find it profitable to hold inventory, they require refineries to hold a minimum level of inventory,” Jaffe said.
Other ideas, such as building more refineries or a new pipeline to California, stand in sharp contrast with the state’s goals to move away from fossil fuels and related infrastructure.that allows only “American-made” vessels to ship goods between U.S. ports, which has forced California to rely on foreign imports when gas supplies run low, raising costs.
But Jaffee said the state most urgently needs to find comprehensive solutions to its current reliance on gasoline, such as investing in public transit, new technologies and affordable housing, while using short-term options, such as gasoline subsidies and incentives, to help get there. She supports the state’s ambitious goals to ban the sale of new
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