Valero Refinery in Benicia, Calif., seen from the Lower Walnut Creek Restoration Project in Martinez, Calif., on March 31, 2022. (Ray Saint Germain/Bay City News)

Gov. Gavin Newsom and the leaders of both houses of the state Legislature announced a deal this week on a proposal to penalize oil and gas companies for allegedly artificially inflating gasoline prices.

The proposal, Senate Bill 2, would allow the California Energy Resources Conservation and Development Commission to establish a cap on an oil company’s refining margin, the price difference between the cost of crude oil pre-refinement and the cost of gasoline once it leaves the refinery.

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Eli covers public health, transportation and state politics for the Bay City News Foundation, serves as the main editor of the Public Health and COVID-19 Information Hub and assists with Local News Matters' social media strategy. He has also previously covered local politics in San Diego County as well as college and professional sports across the Bay Area.