California's gas market deemed 'fragile' due to state policies and taxes

Fox Business highlights California's state gas tax of $0.71, which is double the national average of $0.33. The Western States Petroleum Association states that "decades of bad state policies" have reduced in-state refining capacity, making California increasingly dependent on imported fuel and disrupting the supply chain. Kelly Saberi adds that California imports about 20% of its oil, making it particularly sensitive to market changes.