California to create watchdog to root out gasoline price gouging, curb refiner profits

California Governor Gavin Newsom will sign into state law March 28 first-of-its-kind legislation authorizing fines for high gasoline prices, a proposal he heralded to punish oil companies he contends are “ripping off California families while making record profits.” The price gouging bill cleared the state Senate in a 30-8 party-line vote March 23 and was passed by the State Assembly…