California Gov Newsom signs bill to combat surging gas prices: Big Oil has 'been fleecing you for decades'

California Gov. Gavin Newsom on Monday signed a bill into law aimed at curbing surging gas prices soon after state lawmakers endorsed the legislation in a final vote. 

The Democrat-backed measure, Assembly Bill X2-1, was introduced in response to the state's rising gas prices and will require oil refineries to keep a minimum inventory level of fuel in an effort to avoid scarce supply, which leads to price hikes at the pump.