SACRAMENTO, California — Phillips 66 announced Wednesday that it will close its Los Angeles oil refinery next year, citing “long-term uncertainty” two days after Gov. Gavin Newsom signed a law clearing the way for new regulations on the state’s refiners.

Supporters say ABX2-1 will prevent price hikes. The Western States Petroleum Association says governor's criticism of oil industry won't lower prices.

SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom signed a law Monday aimed at preventing gas prices from spiking, marking the Democrat’s latest move in a battle with the oil industry over energy prices and the impacts of climate change.