The proposed bill establishes a comprehensive framework for the oversight of petroleum products supply and pricing in Washington State, particularly focusing on petroleum-based transportation fuels during the transition from fossil fuels. It mandates the collection of detailed pricing and operational information from refineries, fuel suppliers, and other entities in the transportation fuels supply chain to enhance market transparency and protect consumers. A new division of petroleum market oversight will be created within the utilities and transportation commission, responsible for analyzing market data, identifying price manipulation, and reporting findings to stakeholders, including the legislature and the governor. Beginning January 1, 2026, refineries and major marketers will be required to submit extensive monthly reports and retain records for at least three years.

Additionally, the bill introduces civil penalties for non-compliance with information requests and mandates the development of cybersecurity standards to protect critical energy infrastructure information. It requires annual audits of cybersecurity measures by the energy resilience and emergency management office and allows for limited disclosure of confidential information under specific conditions. The bill also addresses deceptive environmental marketing claims related to transportation fuels, enhances penalties for consumer protection law violations, and includes provisions for data-sharing agreements among state agencies. If specific funding is not provided by a set date, the act will be null and void. The act is designated as the "oil industry accountability act" and is effective immediately to preserve public safety and support state government operations.

Statutes affected:
Original Bill: 19.86.140, 43.01.036
Substitute Bill: 19.86.140, 43.01.036