Tag Archives: Fuel prices to increase

Fuel prices to increase from California emissions law

In this photo taken Friday March 7, 2014, gas prices are displayed at a Shell station in Sacramento, Calif. Starting 2015 California motorists will be hit in the pocketbook by the state's greenhouse gas reduction law AB32. Signed into law by Gov. Arnold Schwarzenegger in 2006, AB32 will force fuel distributors into the same cap-and-trade marketplace as utilities and major manufacturers. The oil industry says it will lead to price increase of at least 12 cents a gallon immediately, while state regulators say any price spikes could vary widely, from barely noticeable to double-digits.(AP Photo/Rich Pedroncelli)

California’s greenhouse gas reduction law already has shaken up the state’s industrial sector, costing it more than $1.5 billion in pollution permit fees. It’s now poised to hit the pocketbooks of everyday Californians.