The bill would require oil refiners to disclose profit margins monthly.
According to State Senator Ben Allen's office, the five oil refiners that control 96% of California's gas reap higher profits of 30-40 cents per gallon.
"Refiners and energy producers are under a lot of requirements from the CA energy commission for example to report a number of issues related to supply and cost and factors," said Vice President of Western States Petroleum Association Kevin Slagle."We believe this bill is a solution looking for a problem," he added. "California is an energy island — we don't import fuels via a pipeline from across the country," said Slagle.
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