California Governor Gavin Newsom signed a new law on Monday aimed at preventing spikes in gas prices, marking his latest move in an ongoing battle with the oil industry over energy costs and climate change.

California consistently has the highest gas prices in the U.S., largely due to taxes and environmental regulations. As of Monday, the average price for regular unleaded gas in California was $4.68 per gallon, compared to the national average of $3.20, according to AAA.

The legislation, inspired by findings from the state’s Division of Petroleum Market Oversight, seeks to address sudden price increases caused by global crude oil fluctuations and unplanned refinery shutdowns. The law grants energy regulators the authority to require refineries to maintain a minimum fuel reserve, aimed at stabilizing prices when refineries go offline for maintenance. Supporters of the law believe it could save Californians billions of dollars at the pump.

At the signing event at the state Capitol, Newsom criticized the oil industry for attempting to block the bill. “They continue to lie and manipulate,” he said. “They’ve been raking in unprecedented profits simply because they can.”

Although the signing comes just weeks before the November election, Newsom emphasized that the legislation is not politically motivated. He has two years left in his second term.

Opponents argue the law could backfire, potentially raising overall gas prices and jeopardizing worker safety by giving the state more control over refinery maintenance schedules. Delaying necessary maintenance, they warn, could increase the risk of accidents.

“Legislators still fail to understand our industry or what drives high gas prices,” said Catherine Reheis-Boyd, president of the Western States Petroleum Association. “Regulators are focused on controlling businesses with more taxes, fees, and costly demands.”

Republicans in the Assembly introduced alternative proposals to lower gas prices, but they were blocked in the Democrat-controlled Legislature. One such proposal sought to exempt transportation fuels from the state’s cap-and-trade program, but it failed to advance.

Newsom initially introduced the bill in August during the final week of the regular legislative session, but lawmakers requested more time to review it. In response, Newsom called a special session to push the legislation through.