{"id":2371125,"date":"2024-11-20T08:41:02","date_gmt":"2024-11-20T13:41:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/usc-estimates-california-fuel-could-rise-by-up-to-90-cents-per-gallon-next-year-washington-examiner\/"},"modified":"2024-11-20T08:42:54","modified_gmt":"2024-11-20T13:42:54","slug":"usc-estimates-california-fuel-could-rise-by-up-to-90-cents-per-gallon-next-year-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/usc-estimates-california-fuel-could-rise-by-up-to-90-cents-per-gallon-next-year-washington-examiner\/","title":{"rendered":"USC estimates California fuel could rise by up to 90 cents per gallon next year &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">36<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fusc-estimates-california-fuel-could-rise-by-up-to-90-cents-per-gallon-next-year-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2371125&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>According to an analysis by\u200c Professor\u2064 Michael A. Mische \u2063from USC&#8217;s Marshall School of\u2062 Business, California&#8217;s gas prices could rise significantly next year, possibly by up to $1.15 per gallon due\u200b to various\u200d factors such as a new carbon \u2062credit system, \u200ctaxes, refinery \u200cregulations, and\u2062 refinery shutdowns. This \u2062increase may require \u2062the average Californian \u2062to earn an additional $600 to\u200c $1,000 annually in\u200b <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fact-check-biden-claims-trumps-tax-cuts-only-benefited-the-wealthy\/\" title=\"Fact Check: Biden Claims Trump&#039;s Tax Cuts Only Benefited The Wealthy\">pre-tax income<\/a> to compensate for the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fact-check-did-airlines-in-the-us-implement-baggage-fees-as-a-result-of-9-11\/\" title=\"FACT CHECK: Did Airlines In The US Implement Baggage Fees As A Result Of 9\/11?\">higher fuel costs<\/a>. The state&#8217;s recent\u200d updates to\u200c its Low Carbon Fuel Standard mandate that producers\u2064 of \u200btraditional fuels purchase credits from cleaner fuel\u200b producers, a \u200dshift projected to cost drivers \u2062heavily. these changes contribute\u2064 to inflation \u200band <a href=\"https:\/\/amzn.to\/3YuVZYV\">disproportionately affect lower-income \u200cindividuals<\/a> in California.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">USC estimates California fuel could rise by up to 90 cents per gallon next year<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1886142\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>(The Center Square) &ndash; California gas prices could rise up to $1.15 per gallon next year thanks to the state&rsquo;s new carbon credit system, taxes, refinery regulations, and refinery shutdown. This would require the typical Californian to make up to $1,000 per year more in pre-tax income to &ldquo;break even,&rdquo; according to an analysis from a professor at the USC Marshall School of Business.&nbsp;<\/p>\n<div class=\"article-paywall\">\n<p>&ldquo;The increase contributes to inflation, the high cost of living in California, and has a disproportionate and adverse impact on lower income Californians,&rdquo;&nbsp;<strong><a href=\"https:\/\/files.constantcontact.com\/6ddc9aab901\/7a260d38-7d37-4c5b-9d71-b5b564525488.pdf\">wrote<\/a><\/strong>&nbsp;Professor Michael A. Mische. &ldquo;To compensate for the increases, the average Californian driving an internal combustion vehicle will have to earn an additional $600.00 to $1,000.00 a year in pre-tax income in order to &ldquo;breakeven&rdquo; with 2024 prices, depending on the grade of gas they purchase.&rdquo;<\/p>\n<p>Days after the November election, the California Air Resources Board &mdash; a regulatory commission almost entirely appointed by the governor &mdash;&nbsp;<strong><a href=\"https:\/\/www.thecentersquare.com\/california\/article_3db607c0-9e00-11ef-87ff-27f64fe9659e.html\">passed<\/a><\/strong>&nbsp;new updates to the state&rsquo;s Low Carbon Fuel Standard, requiring producers of &ldquo;dirty&rdquo; transportation fuel to purchase more credits from producers of &ldquo;clean&rdquo; transportation fuel. The new LCFS will provide an estimated $105 billion in EV charging credits and $8 billion of hydrogen credits largely paid for by fees on gasoline and diesel, which the state estimated would be passed on to drivers and consumers.&nbsp;<\/p>\n<p>Mische first estimated&nbsp; that the state&rsquo;s newly passed carbon credit requirement will increase retail prices for regular grade gasoline in 2025 somewhere between 40 and 65 cents per gallon &mdash; similar to that estimated by the University of Pennsylvania Kleinman Center for Energy Policy.<\/p>\n<p>He then estimated that the governor&rsquo;s new refinery regulations he passed during a special legislative session last month would increase prices between 5 and 27 cents per gallon, and that the shutdown of the Phillips 66 refinery announced after the new refinery regulations would add another 8 to 14 cents per gallon.<\/p>\n<p>Because California gas taxes rise with the state&rsquo;s price index, Mische estimates the gas tax will go up between one to two cents per gallon in 2025.<\/p>\n<p>Combined, these changes add up to an increase of 55 to 90 cents per gallon of regular-grade gasoline in 2025, and 95 cents to $1.15 for premium-grade gasoline.<\/p>\n<p>Republicans pointed out that the governor has now moved away from Sacramento, the state&rsquo;s capital, and will now be chauffeured to work in a gasoline car.&nbsp;<\/p>\n<p>&ldquo;Newsom is completely out of touch, recently purchasing a $9.1 million mansion in Kentfield, a wealthy town that&rsquo;s 90 miles away from his job in Sacramento,&rdquo; said Senate Minority Leader Brian W. Jones, R-San Diego, in a statement. &ldquo;While regular Californians face tough choices between putting food on the table or gas in their cars, Newsom will be chauffeured to work from his luxury home in a taxpayer-funded car, running on taxpayer-funded gas, on the rare occasions he decides to show up.&rdquo;<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1886142\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1886142\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>USC predicts California gas prices may increase by 90 cents<\/p>\n","protected":false},"author":1,"featured_media":2371126,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/09\/gas-prices_gas-pumps_jk4.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[4045,45362,40714,16349,45361],"class_list":["post-2371125","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-california","tag-economic-forecast","tag-fuel-prices","tag-gasoline","tag-usc"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/09\/gas-prices_gas-pumps_jk4.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2371125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2371125"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2371125\/revisions"}],"predecessor-version":[{"id":2371129,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2371125\/revisions\/2371129"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2371126"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2371125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2371125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2371125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}