Overview
- California’s energy regulator said the state has roughly six weeks of oil and gas supply, with uncertainty after that if the Strait of Hormuz stays disrupted.
- An oil industry leader warned that California will have to fight for fuel on the global market, which could keep prices climbing.
- About 60% of the state’s crude comes from abroad, and nearly a third travels from Iraq and Saudi Arabia through the Hormuz chokepoint.
- Two refinery closures in the past year erased about 20% of in‑state capacity, increasing dependence on imports and heightening price swings.
- Officials are weighing short‑term relief and structural changes, including a gas tax holiday and revisiting California’s special gasoline blend, though industry says a blend shift is complex and a tax pause would be brief.