California's governor, Gavin Newsom, has not used a 2023 law meant to curb price gouging and prevent high gas prices. The bill allows the California Energy Commission (CEC) to impose price-gouging penalties for oil companies and cap on refinery profits when global oil prices spike. However, the CEC voted to delay the legislation for five years to boost investor confidence and prevent refineries from leaving California. This decision was made after Newsom directed Siva Gunda to work closely with oil refiners after industry pushback and fears gas prices could exceed $8-a-gallon. While some argue California's strict environmental regulations are the reason for rising gas prices, Newsom blames the ongoing conflict in Iran for the increase.