Proposed changes to a key California climate program could hike gasoline pump prices as much as 15 cents per gallon by 2030, an oil industry group is arguing.
California regulators plan to revise the state’s landmark cap-and-trade program, which forces top polluters to pay penalties for their greenhouse gas emissions.
The potential revisions will raise costs for independent fuel retailers, the California Fuels and Convenience Alliance said in a letter to the program regulator, the California Air Resources Board.
“Higher compliance costs translate directly into increased fuel prices — and the effects can be staggering,“ the trade group for fuel sellers and convenience store operators said in a comment on the agency’s draft changes to system rules.
