Gov. Newsom signs fuel storage bill to prevent gas price spikes

SACRAMENTO, Calif. (KGO) -- Gov. Gavin Newsom signed a bill Monday afternoon aimed at curbing surging gas prices after the California Assembly gave the bill its final approval on Monday.

The measure was introduced in response to the state's rising gas prices, and will require oil refineries to keep a minimum inventory level of fuel in attempt of avoiding supply scarcity and price hikes at the pump. Additionally, it will authorize the California Energy Commission to approve scheduled maintenance times to avoid supply issues.

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Earlier on Monday, the California Legislature gave the measure its final approval in a 41-16 vote, with several Democrats not voting and four of them voting against the bill.

Opponents argue the storage requirements might be unfeasible for refineries and could lead to refinery closures and job losses.

Stay with ABC7 News for the latest details on this developing story.