While officials are not concerned about an immediate oil shortfall, California consumers are likely to see another price hike in the coming weeks as the war in Iran strains the global market, lawmakers said on Tuesday at a hearing about the uncertain future of the state’s fuel supply.
The hearing came after the final oil tanker to pass through the Strait of Hormuz arrived at the Port of Long Beach this week — the last shipment from the Middle East expected to reach California for the foreseeable future.
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“When this tanker is empty, it’s unclear where the next replacement ship will be coming from,” said Assemblymember Cottie Petrie-Norris, D-Irvine, and Utilities and Energy Committee chair at Tuesday’s hearing.
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