California Public Resources Code

§ 25355.5

PRC § 25355.5 Effective Jul 10, 2023Div. 15 · Ch. 4.5

Statute text

(a)For purposes of this section, the following definitions apply:

(1)“Gross gasoline refining margin excluding state program costs” means the amount, expressed in dollars per barrel and calculated by the commission on a monthly basis, equal to the volume-weighted average rack price of wholesale gasoline sold by a refiner in the state, less the volume-weighted fees or estimated valuations of costs embedded in all of the refiner’s wholesale gasoline sales associated with the low carbon fuel standard and the cap and trade cap-at-the-rack program, less the refiner’s volume-weighted average acquisition cost.

(2)“Maximum gross gasoline refining margin” means the maximum amount of gross gasoline refining margin excluding state program costs established under subdivision (b).

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Legislative history

Amended (as added by Stats. 2023, 1st Ex. Sess., Ch. 1, Sec. 5) by Stats. 2023, Ch. 53, Sec. 3. (SB 124) Effective July 10, 2023.