After gas prices spiked starting in August and peaked in late September, oil companies profited more than $33 billion in just three months, according to Gov. Gavin Newsom, who suggested the companies could be doing more to help ease the pain for drivers.
“Big Oil hiked prices at the pump and took in huge profits,” Mr. Newsom said in a press release Nov. 8. “Instead of passing down savings to consumers, they sent billions to shareholders and Wall Street.”
