Gas to $8 Per Gallon in California Soon? New Gas Taxes Explained

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This video explores California’s looming gas price crisis, with prices potentially hitting $8 per gallon by 2026. It covers refinery closures, strict regulations, high taxes, and supply issues driving costs above the $3.12 national average. Trump’s plans to lower prices via increased oil production is also discussed.

In this video, tax expert Karlton Dennis explains key factors behind California’s rising gas prices, like the closure of two major refineries and costly environmental rules, including the Low Carbon Fuel Standard. California’s unique fuel blend and reliance on imported oil worsen supply shortages, pushing prices higher.

The script highlights economic impacts, with $8.43 per gallon possibly adding $600-$1,000 yearly to household costs. Karlton describes debates over California’s climate policies and invites viewer opinions. This video is potentially beneficial for anyone who wants to learn more about why gas prices could soon be increasing substantially in California.

CHAPTERS:
0:00 Intro
0:53 Key Refinery Closures
1:35 Stricter Environmental Regulation
2:38 High State Taxes and Fees
3:31 California’s Unique Fuel Blend
4:16 Supply Chain Vulnerabilities
5:05 The Debate Around California’s Climate Policies
5:59 Economic Impact
6:41 What About Trump
8:43 Outro

*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

#californiagasprice #karltondennis #personalfinance