Newsom gets big win: California Senate approves first-of-its-kind ‘price gouging’ bill

California lawmakers voted on Thursday to advance a bill that would penalize oil companies for “price gouging” — first-of-its-kind legislation pushed forward in recent months by Gov. Gavin Newsom.

The SBX1-2 bill, sponsored by State Sen. Nancy Skinner (D), received the approval of the California State Senate in an Extraordinary Session convened to fast-track the legislation on Thursday morning.

The bill could head to the State Assembly as early as Monday and receive the governor’s signature shortly after that.