The bill would have the Utilities and Transportation Commission collect, analyze, and report on operational, pricing, and cost information from fuel suppliers, refineries, and other entities in the supply chain for transportation fuels sold in the state. It creates an independent Division of Petroleum Market Oversight with a director appointed by the Governor.
The Division would provide independent oversight and analysis of the transportation fuels markets to protect consumers by identifying market design flaws, market power abuses, and any other ways in which market participants act to harm competition or contrary to the best interests of consumers. It would be authorized to compel witnesses to testify under oath and to subpoena relevant material including current and historical pricing and sales data and industry contracts.It would provide guidance and recommendations to the Governor, as well as members and other divisions of the UTC on issues related to transportation fuels pricing and transportation decarbonization in Washington, and would report its findings and recommendations to improve market performance at least annually to the Legislature, the Governor, the UTC, the Attorney General, and the Department of Licensing.
Learn More About this Bill