LA City Councilmember Paul Koretz Introduces Legislation Aimed at Price Gouging at Gas Stations

By Staff Writer

This week, in response to the sharp increases in oil prices, Los Angeles City Councilmember Paul Koretz introduced a package of legislation seeking to enforce against fuel price gouging and minimize the financial burden Angelenos are experiencing.   

The motion requests the Chief Legislative Analyst, City Attorney, Office of Petroleum and Natural Gas, and Bureau of Contract Administrative to report to the Council on current petroleum supply chain challenges and the impacts of oil futures markets on supply, demand, and pricing of crude and refined oil; current protections afforded under California’s anti-price gouging statute and, any and all legal mechanism the City of Los Angeles has to conduct oversight and monitoring of gasoline prices and enforcements for anti-price gouging laws.

The three resolutions introduced support federal anti-price gouging legislation and add to the City’s 2021-22 Federal Legislative Program support for the COVID-19 Price Gouging Prevention Act (H.R. 675) which would make it unlawful to sell consumer goods or services at unconscionably excessive prices; the Consumer Fuel Price Gouging Prevention Act (HR 7688) which would make it unlawful to increase gasoline and home energy fuel prices in an excessive manner; and the Transportation Fuel Market Transparency Act (S.4217),  which provides for additional enforcement mechanism against fraud or manipulation that may be artificially inflating gas prices.

“Angelenos are paying record-high gas prices during a continued declaration of emergency and under intense inflationary pressures, forcing families to choose between filling up a gas tank or filling up a grocery bag. Meanwhile, companies and financial investors are raking in huge profits,” Koretz said. “We’re all acutely aware that the Russian invasion of Ukraine, global supply chain issues, and inflationary pressures are having an impact on prices at the pump. What is discussed less often is the ability of speculative activities to artificially increase prices. This activity and the volatility created in the oil and gas market goes beyond free-market competition. The law of supply and demand seems to have gone out the window.”

Koretz represents City Council District 5, which includes Century City and Westwood. 

According to AAA, all 50 states had national retail prices of more than $4 per gallon as of this week but California leads the trend at an average of $6.06 per gallon with analysts predicting further upward trends in the coming months.

in News
Related Posts

THIS WEEKEND: Santa Monica Hosts 33rd Annual Juneteenth Celebration

June 12, 2025

June 12, 2025

The event, which draws over 2,000 attendees annually from Santa Monica, West Los Angeles, and beyond, was first funded by...

SMPD Announces Safety Measures Ahead of Upcoming ‘No Kings’ Rally on Westside

June 12, 2025

June 12, 2025

Enhanced patrols, rapid-response teams, and advanced technology for situational awareness are part of a detailed operational plan The Santa Monica...

Virtual Event to Explore Palisades’ Horticultural Heritage

June 12, 2025

June 12, 2025

The event will highlight how these trees continue to inspire community resilience and regrowth The Santa Monica Mosaic series will...

Chamber Music Palisades to Host Free Afternoon Concert This Weekend

June 12, 2025

June 12, 2025

The lineup also includes Poulenc’s “Mélancolie”, Stanford’s “Two Intermezzi”, and Joplin’s “Afternoon Cakewalk” Chamber Music Palisades will present a free...

Mastro’s Malibu Reopens With Ocean Views, Signature Steaks, and Nearly Entire Staff Intact

June 12, 2025

June 12, 2025

Iconic Oceanfront Steakhouse Returns With Its Beloved Butter Cake, Nightly Live Music, and Sunset Glamour After a five-month closure due...

New Gourmet Store O&V CA Opens on Montana Avenue

June 11, 2025

June 11, 2025

The store, which celebrated its grand opening recently, specializes in a carefully curated selection of fresh, extra-virgin olive oils  A...

Third Annual Rosé on Rose Wine Fest Comes to Venice Beach This Weekend

June 11, 2025

June 11, 2025

Rosé offerings priced between $8 and $10 per glass at various Rose Avenue establishments The third annual Rosé on Rose...

Grass Fire Extinguished in Palisades

June 11, 2025

June 11, 2025

Firefighters remained on scene to conduct mop-up operations, ensuring no hot spots persisted Firefighters extinguished a small grass fire in...

Palisades Fire Victims Can Retain Voter Registration, Access Free Records

June 11, 2025

June 11, 2025

Separately, Los Angeles County is offering no-cost vital records (birth, death, marriage) and real property records to fire-affected residents to...

Congregation and Family Fight to Stop Sale of Historic Venice Church

June 11, 2025

June 11, 2025

Descendants and supporters rally against alleged unlawful sale, seeking historic status and legal action Members of Friendship Baptist Church and...

ICE Detentions Confirmed in Culver City and Westchester Car Washes Amid Federal Raids

June 11, 2025

June 11, 2025

Families Say Loved Ones Taken Without Warning; Viral Video Shows Teen Screaming  While the focus has been on cities such...

Santa Monica ‘Pier 360’ Beach Festival Returns June 28–29 with Two Days of Surf, Sports, and SoCal Vibes

June 10, 2025

June 10, 2025

Free All-Ages Event Features Ocean Races, Skate Competitions, Roller Rink, Beer Garden, Live Music, Kids Activities, And More The Santa...

Post Wildfires, Pacific Manufactured Homes Offers Affordable and Beautiful Rebuilding Options for Southern California

June 10, 2025

June 10, 2025

One of the largest factors in choosing a new home is price and with the seemingly unending rise in home...

Rodeo Realty’s Palisades Office Becomes First Rebuild Post-Fire

June 10, 2025

June 10, 2025

The structure, now fully framed, is set to reopen this year Rodeo Realty announced that the reconstruction of its Pacific...

Palisades Baseball, 80 Local Businesses and Others Get Another $14M from FireAid Funds

June 10, 2025

June 10, 2025

The second-phase grants support financial and housing stability, mental health services, and community infrastructure FireAid, the benefit concert that raised...