Part 7/12:
The impact of this deal on consumers and the economy is profound. Experts warn that gas prices could spike dramatically, reaching between $10 to $12 per gallon—levels unseen in many states—potentially topping $8.43 according to some forecasts. Such prices threaten to exacerbate California’s already severe affordability crisis, pushing more families into poverty and increasing homelessness, especially as housing costs remain exorbitant.
California, which holds the unfortunate title of the highest poverty rate in the United States at around 17.7%, continues to struggle despite being the world’s fourth-largest economy. The convergence of high taxes, sky-high housing prices, and elevated energy costs has eroded purchasing power for millions, pushing many into economic despair.