California Democrats are planning to send the state’s astronomical gasoline prices soaring even higher by strengthening a pair of decade-old climate policies.
The California Air Resources Board (CARB), whose most senior members are appointed by Governor Gavin Newsom, is considering amending two regulations — the Low Carbon Fuel Standard (LCFS) and the cap-and-trade program — to help the state meet its carbon-reduction goals. But in the process, gas taxes will increase significantly over the next two years and beyond.
Gas prices could increase by as much as 47 cents per gallon by 2025 and by 52 cents by 2026, according to CARB’s September 2023 report on the potential impact of the proposed LCFS amendments. Gas taxes could surge by as much as $1.15 per gallon on average from 2031 to 2046, hitting a peak of $1.83 in 2041. California drivers currently pay about 12 cents per gallon in additional gas taxes because of the LCFS program, per the report’s projections.