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California Emissions Law May Fuel Jump in Gas Prices

California Emissions Law May Fuel Jump in Gas Prices

California's greenhouse gas reduction law is poised to hit the pocketbooks of everyday Californians.

Starting next year, the law will force distributors of consumer fuels into the same cap-and-trade marketplace as utilities and major manufacturers.

The oil industry says that will lead to price increases of at least 12 cents a gallon immediately.

State regulators say any price spikes could vary widely, from barely noticeable to double digits.

 

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