California energy regulators are investigating whether major gas brands are using the Iran conflict to inflate prices and boost profits. Branded stations charge 31 cents more per gallon than unbranded ones, far above the national gap of 6 cents.
Retail markups can cause price differences of up to 70% between wholesale and retail. The gap between the most and least expensive stations averaged $1.76 per gallon over 200 days.
The investigation seeks to determine if these disparities constitute illegal price gouging.