California’s high gas prices to be focus of special legislative session

By KTVU Staff

Gov. Newsom has called state lawmakers to meet for a special session next week to impose a price gouging penalty on oil companies.

Newsom has complained that California's gas prices were above the national average this fall, giving the oil companies a huge, undeserved profit. 

Besides the possibility of a fine for price gouging, Newsom wants the legislature to give state agencies the power to review gas costs, profits, and pricing. 

During a stretch in September and October, the average price per gallon in California was $2.60 more than the national average. Newsom's office said that California prices peaked at $6.42 per gallon, but they have fallen recently to $4.95.

Gas companies have said the shortages at refineries were to blame for the fuel prices.

Five major refiners skipped a hearing by the state's energy commission earlier this week where they would have been questioned.

The legislative session is scheduled to begin on December 5. Newsom had said in October that he would call a special session.