Legislation to requiring oil refiners to disclose profits per gallon monthly clears CA Assembly Natural Resources Committee
June 28, 2022 By Ramona du Houx A bill requiring oil refiners to disclose their per gallon profits monthly passed out of the California Assembly Natural Resources Committee by a vote of 8 – 3. The legislation has already passed out of the California Senate by a vote of 22 – 4. SB 1322 (Allen) requires the oil refiners to disclose monthly their refining profits — the difference between average cost they pay for a barrel crude oil and the average price they charge for the finished barrel of gasoline, minus their expenses. With 42 gallons in a barrel, the public will know exactly how much oil refiners make per gallon of gas in California. “For my refinery community, this […]