Founded over 20 years ago, Canon Business Properties, Inc. is a privately held firm specializing in property management, real estate development and investment opportunities.
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Commercial Property Management in Palm Springs, CA
- Commercial Property Management in Palm Springs, CA
- The Best Commercial Property and Construction Management Company for Elite Clients in California
- Canon Business Properties, Inc.: A Reputation for Excellence
- The Only Partner You'll Need for Commercial Property Management in Palm Springs, CA
- Full-Service Commercial Construction Management in Palm Springs, CA
- Close On-Time with Commercial Brokerage Services in Palm Springs, CA
- Will the Los Angeles Real Estate Market Recover After Recent Wildfires?
- Canon Business Properties, Inc.: The Premier Choice for Commercial Property Management
Experienced commercial property owners know that one of the most important decisions after acquiring an asset is selecting a top-tier property management firm with years of high-level experience. This crucial choice helps ensure the property is well-maintained and appreciates in value over time. Anything less can present owners with a series of challenges that negatively impact their ROI.
Unfortunately, just about anyone can claim to be a property manager these days. However, savvy property owners understand the importance of vetting and securing services from a reputable commercial property management company in Palm Springs, CA.
We are not talking about unreliable LLCs. We're talking about established firms with a track record of excellence, like Canon Business Properties, Inc., who deliver real results to long-term clients. Unlike less reputable companies, Canon Business Properties, Inc. is a privately held firm with unrivaled expertise that offers custom services to an elite client base.
Whether you own commercial, retail, industrial, or office real estate in The Golden State, our team is ready to show you why we are the best.
Canon Business Properties, Inc.: A Reputation for Excellence
When you want to try Copley's on Palm Canyon in Palm Springs, CA, you don't go to a mid-tier chain restaurant and expect to be impressed.. You drive to the Le Vallauris Restaurant in Palm Springs, CA. Similarly, when you are in search of the most sought-after property management company on the West Coast, you do not settle for mediocrity. You choose Canon Business Properties.
Founded over 20 years ago by Alexander Radosevic, Canon Business Properties, Inc. is a privately held firm specializing in commercial property management, commercial construction management, real estate development, and investment opportunities. Property owners and managers around the world look to us to provide them with expert advice on commercial and industrial property management. They also look to us to initiate and manage comprehensive commercial building plans and property sales. That is especially important in California, where wildfires have ruined hundreds of commercial properties since January of 2025. With a portfolio valued at over $1.5 billion dollars, owning, investing in, and managing industrial, commercial, office, and retail properties is our bread and butter.
The Canon Business Properties, Inc. Difference
With more than two decades of experience in commercial property management, commercial construction management, and commercial brokerage services, no two companies are quite like Alex Radosevic's Canon Business Properties, Inc. We take pride in cultivating personal, long-term relationships with our clients built on integrity, trust, and mutual respect.
Here are just a few reasons why our clients rely on us to provide real ROI:
Our Expertise
With a diverse portfolio exceeding $1.5 billion in value, we specialize in the management of various property types, including industrial complexes, commercial centers, office buildings, and retail spaces. Our expertise allows us to navigate the unique challenges and opportunities presented by each sector, ensuring optimal performance and value enhancement for all properties under our care. Whether it is overseeing the operations of bustling retail environments or maintaining the efficiency of modern office spaces, our commitment to excellence drives our success
Our Clients
Our clientele is diverse and includes a range of sophisticated groups and individuals. Some of our clients include families seeking to secure their financial future, sovereign wealth funds, seasoned real estate investors looking for commercial property management in Palm Springs, CA, and high-net-worth individuals who need tailored investment solutions to meet unique goals and family legacies. Each of these clients brings distinct needs and aspirations, allowing us to provide customized strategies that cater to their specific circumstances.
Our Values
It does not take a graduate from UC RiversidePalm Desert in Palm Springs, CA, to know that personal client relationships are most often built on integrity, trust, and mutual respect. That is why we prioritize open communication and transparency. When we work with a new client, we want a deeper understanding of their needs and aspirations. This commitment allows us to build not just professional connections, but meaningful partnerships that stand the test of time.
Now that you know more about what separates Canon Business Properties, Inc. from other companies in Los Angeles, let us take a closer look at a few of our specialties: commercial property management, commercial construction management, and commercial property sales.
The Only Partner you will Need for Commercial Property Management in Palm Springs, CA
At Canon Business Properties, Inc., we focus on managing commercial properties for owners who demand the best. Most of our new clients come to us as referrals from satisfied business owners, family offices, sovereign funds, and high net-worth individuals who trust us and our long-term relationships.
Canon is a leading firm in managing commercial, office, retail, and industrial properties. We earned our reputation by consistently exceeding expectations and providing returns on investments that perform better than the market average. We currently manage a commercial portfolio worth over $1.5 billion, which includes some of the world's most valuable and prestigious properties. Over our many years in business, this proven track record of success has made Canon the go-to firm for "in the know" clients demanding the best.
Our elite, white-glove property management services cover all the essential needs for managing high-end properties and more. With strong relationships in Silicon Valley and a reputation for cutting-edge technology, we deliver excellent results at prices that others are envious of. Having our own commercial construction management team and extensive local market knowledge does not hurt, either.
Some of the most common commercial property management services we offer include:
Tenant Screening and Selection
It does not take a graduate from Mayfield College in Palm Springs, CA, to know that personal client relationships are most often built on integrity, trust, and mutual respect. That is why we prioritize open communication and transparency. When we work with a new client, we want a deeper understanding of their needs and aspirations. This commitment allows us to build not just professional connections, but meaningful partnerships that stand the test of time.
Capital Improvements
To preserve and increase the value of real estate, it is important to consistently and carefully assess its physical state and all capital upgrades. We offer budget-friendly resources to help assist in this critical step. Our experienced team meticulously oversees every aspect of each project, from negotiating bids to maintaining budgets and schedules. Jump to the commercial construction management section of this page for more information on how Canon improves your property investments in California.
Financial Reporting and Accounting
We provide tailored accounting services using Yardi Voyager, a sophisticated yet user-friendly property management software platform. Clients and their advisors can view accounting, leasing, and maintenance information, as well as every facet of their portfolio, in real time via a highly secure and reliable portal. Our robust internal controls, backed by a system of checks and balances, ensure precision and offer assurance.
Financial reporting and accounting from Canon Business Properties, Inc. can include:
- Collection and Dues
- Expense and Monthly Income Reporting
- Forecasting and Budgeting
- Delinquency Stabilization
- Accounts Payable and Receivable
- Reserve Analysis and Valuation
- Bank Reconciliation
Maintenance and Repairs
We work with the vendors our clients prefer and can provide a trained local maintenance staff for each property if needed. These experts will collaborate to create plans that can anticipate and address maintenance needs. Our maintenance and property management teams offer effective solutions by handling many important tasks that other companies outsource at a higher cost. This leads to better operational efficiency, higher quality tenants, and improved performance.
While other property management firms might cut costs by delaying necessary maintenance, we recognize the long-term problems that can arise from such choices. In worst-case scenarios, maintenance issues can be hazardous, leaving tenants injured in Stonewall Gardens Assisted Living in Palm Springs, CA. That is why we take a proactive approach by managing maintenance contracts and providing monthly service reports.
The above is only a sampling of our comprehensive commercial property management services in Palm Springs, CA. We also offer:
- 24-Hour Emergency Response
- Unlawful Detainer Actions
- Property Inspections
- Vendor Bid Management
- Code & Regulation Compliance
- Licensing and Permitting
- Commercial Construction Management
- Commercial Brokerage Services
- Much More
Full-Service Commercial Construction Management in Palm Springs, CA
When you have developed over 1 million square feet of real estate, it is safe to say you know how to source and guide skilled craftsmen for efficient construction management. At Canon Business Properties, Inc., we only work with quality contractors and subcontractors who are highly conscientious, follow building codes, and have the skills and resources to deliver great results. From the first bids to the ribbon-cutting ceremony, we take care of everything for you - which is particularly important for those recently affected by California's wildfires.
If you own an apartment complex or building that has been compromised due to a natural disaster like wildfire, you are probably thinking about what steps to take next. If your goal is to build back better and stronger than ever, look no further than Canon Business Properties, Inc. to help. We have a special place in our hearts for those affected by the recent wildfire tragedies. As such, we will do everything in our power to help you rebuild your apartment complex or commercial property.
Our long-term relationships with contractors help us get competitive bids for high-quality work. Plus, we offer bespoke construction management through our staff and a network of construction professionals. By leaning on Canon, you can focus on caring for your family while we handle the hard work and resurrect your investment.
Construction Management Phases
Typically, a commercial construction project includes three phases and can take years or more to complete, depending on the scope of the project. The three phases of construction include:
Design Phase
The main tasks of this phase include selecting architecture and engineering consultants, developing the engineering scope while coordinating with the building engineer, and preparing the budget and schedule. It also involves issuing drawings for permits stand reporting progress to the property owner.
Bidding Phase
During the bidding phase, we will first prepare a request for proposal and select suitable contractors to bid on the project. Following this, a pre-construction meeting will be held to discuss the project scope and review the relevant building rules, regulations, and requirements.
Once bids are received, we will thoroughly evaluate and qualify them, preparing a bid comparison to facilitate the contractor selection process. After selecting the most qualified contractor, we will report the results and progress to the owner, ensuring transparency and alignment with their expectations.
Construction Phase
The construction process begins with closely monitoring the demolition to ensure compliance with building regulations, followed by the creation of a construction progress meeting schedule. It is essential to resolve any field conflicts that may arise, alongside reviewing change orders to keep everything on track.
Throughout the construction phase, we monitor all ongoing work and maintain effective communication with the tenant regarding their needs. We also help coordinate important aspects like telephone and data services, furniture arrangements, and the tenant's move-in date. Additionally, a thorough review of payment applications and supporting documents, including lien waivers, is necessary to maintain financial transparency. As the project nears completion, preparing a punch list and managing the contract close-out, along with providing onsite supervision, ensuring quality control, and finalizing finishing details, sets the stage for a smooth move-in process
Close On-Time with Commercial Brokerage Services in Palm Springs, CA
When you need an aggressive marketer and negotiator for commercial real estate, look no further than Alexander Radosevic and Canon Business Properties, Inc. Our expertise in the industry and knowledgeable brokers offer many advantages for investors, developers, landlords, and tenants. In fact, we offer tailored strategic planning for each property and develop personalized solutions to address a range of nuanced client needs. At the end of the day, we work as a team to successfully lease, acquire, and dispose of properties on behalf of our clients - and we do it much better than your average agent with a "big box" brand.
Some of our commercial brokerage services include:
Marketing for Commercial Sale or Lease
Prior to promoting a property for sale or lease, Canon assesses its fair market value using our in-depth expertise and comprehensive market information. After finalizing the value, we establish a multi-faceted marketing plan aimed at potential buyers, tenants, and investors through a range of highly effective methods, including:
- Local and National Media Advertising
- Local and National Broker Cooperation
- Direct Mail
- Brochures
- Signage
- Online Digital Marketing Services
Transaction Services for Commercial Real Estate
To ensure successful transactions, we closely monitor expenses and collaborate with your financial and legal advisors. We provide support with due diligence, escrow services, business permits, construction oversight, and financing options, including take-out and bridge loans, purchase money financing, and refinancing. As skilled and seasoned negotiators, we formulate and present offers and counter offers and are happy to prepare closing transaction documents. Of course, we keep you and your advisors updated throughout each stage of this process. That way, you know exactly what is happening and how your transaction is progressing.
Will the Los Angeles Real Estate Market Recover After Recent Wildfires?
If you just read the headline above, chances are you or someone you know has been affected by the recent wildfires in Los Angeles County. They have left an enduring and depressing mark on our region's commercial real estate scene. In fact, the recent fires obliterated over 16,200 buildings and devastated more than 57,000 acres. This devastation has had a profound effect on commercial real estate in sectors like office, industrial, and multifamily properties.
Let's take a closer look at the short and long-term impacts of these wildfires, as well as recovery resources for those affected and what the future looks like in LA commercial real estate.
The Aftermath
The fires caused significant damage, with property losses estimated between $30 billion and $45 billion, affecting crucial commercial hubs like office parks and retail spaces. Insurance premiums in high-risk areas have surged, prompting many property owners to seek limited coverage through the California FAIR Plan after insurers decline renewals. This disaster has led businesses to reconsider leasing in high-risk locations - a trend that could disrupt the existing commercial property market.
Long-Term Impact
Some of the long-term impacts of the recent California wildfires may include:
Revival of the Industrial Market
The rebuilding process is anticipated to create substantial demand for industrial space, especially for industrial outdoor storage (IOS) properties. This could help fill current vacancies and encourage new development, although it may not immediately reduce decade-high vacancy rates.
Construction Costs and Regulatory Challenges
Tighter fire safety regulations and escalating construction expenses will make the rebuilding process more challenging. These elements could postpone projects and raise costs for both property owners and developers.
Small Business Recovery Resources
The California government has mobilized resources to support businesses and individuals affected by the Los Angeles wildfires. The California Office of the Small Business Advocate (CalOSBA) has created a list of recovery resources on the Outsmart Disaster website, including Disaster Recovery Centers (DRCs) and Business Recovery Centers (BRCs) for federal and state assistance. There are also grant programs available, like the LA Region Small Business and Worker Relief Funds and tax relief from the California Department of Tax and Fee Administration. These initiatives aim to facilitate the recovery process for those impacted by the wildfires.
The Road Ahead
The path ahead will be complicated and will include regulatory obstacles, rising construction expenses, and changes in investor confidence. In spite of these difficulties, rebuilding initiatives present an opportunity to rejuvenate the industrial sector and tackle current market disparities. That's where Canon Business Properties, Inc. comes in. If your commercial or industrial property has been compromised by the LA wildfires, know that our commercial construction management services in Palm Springs, CA, can help. As property owners in LA recover, we'll be there by their side to help rebuild and navigate the nuanced interplay of economic, regulatory, and environmental factors affecting our market's future.
Canon Business Properties, Inc.: The Premier Choice for Commercial Property Management
At Canon, we have learned over time that having an intimate knowledge of virtually every specific investment product - and the resources to bring those products to the table for our clients - allows us to be full service in every conceivable way. And that, in a nutshell, is what separates Canon from all the others: handling just about every aspect of your commercial property management, construction, and brokerage needs.
After all, caring for real estate requires complete transparency and honesty on all fronts. That's exactly what you will get from Alexander Radosevic and Canon Business Properties, Inc. Contact us today to schedule your discovery call and to learn more about why so many business owners, families, real estate investors, sovereign wealth funds, and high-net-worth individuals choose our firm.
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Latest News in Palm Springs, CA
California spas shine in national USA Today 10Best Awards. See list of winners
James Wardhttps://www.desertsun.com/story/news/nation/california/2025/07/09/palm-springs-spa-at-sc-he-watsonvilles-mount-madonna-center-honored/84520247007/
Several California wellness destinations have been recognized in USA Today's 2025 10Best Readers’ Choice Awards.The Spa at Séc-he in Palm Springs placed No. 2 in the Best Day Spa category. The 73,000-square-foot facility features a suite of luxury wellness offerings, including private mineral baths, halotherapy salt caves, float therapy, quartz b...
Several California wellness destinations have been recognized in USA Today's 2025 10Best Readers’ Choice Awards.
The Spa at Séc-he in Palm Springs placed No. 2 in the Best Day Spa category. The 73,000-square-foot facility features a suite of luxury wellness offerings, including private mineral baths, halotherapy salt caves, float therapy, quartz bed massages, and aromatherapy steam rooms. Guests can also access a fitness center, wellness lounges, and dining at the on-site Málmal Café and Pál Bar.
Mount Madonna Center in Watsonville received honors in two categories, placing No. 4 for both Best Meditation Center and Best Yoga Retreat Center. Located on 380 acres in the Santa Cruz Mountains, the center offers views of Monterey Bay and a wide range of customizable retreats focused on yoga, meditation, and wellness. Daily rituals include sunrise and sunset ceremonies at the mountaintop Hanuman Temple, vegetarian meals, nature hikes, and spiritual gatherings.
Other California spas recognized included:
List of the best gyms nationwide
How were the lists determined?
The USA Today 10Best awards are determined by public voting and highlight leading travel, wellness, and leisure destinations. Voting for the 2025 awards occurred throughout June, and winners were announced on July 9.
For a full list of 2025 winners, visit 10best.usatoday.com.
Our team of savvy editors independently handpicks all recommendations. If you purchase through our links, the USA Today Network may earn a commission. Prices were accurate at the time of publication but may change.
Palm Springs Public Library reopens, pool remains closed due to equipment malfunctions
Cynthia Whitehttps://kesq.com/news/2025/07/08/palm-springs-public-library-reopens-pool-remains-closed-due-to-equipment-malfunctions/
Update 7/9/25The Palm Springs Public Library has reopened as the air conditioning system has been successfully repaired. To allow the building time to fully cool, the library will reopen from 12:00 p.m. to 6:00 p.m.The pool remains closed.Original Report 7/8/25PALM SPRINGS, Calif. (KESQ) - Power issues continue to keep several Palm Springs venues in Sunrise Park closed again on Wednesday. The city of Palm Springs sent out a notice Wednesday that the Community Pool Remains temporar...
Update 7/9/25
The Palm Springs Public Library has reopened as the air conditioning system has been successfully repaired. To allow the building time to fully cool, the library will reopen from 12:00 p.m. to 6:00 p.m.
The pool remains closed.
Original Report 7/8/25
PALM SPRINGS, Calif. (KESQ) - Power issues continue to keep several Palm Springs venues in Sunrise Park closed again on Wednesday. The city of Palm Springs sent out a notice Wednesday that the Community Pool Remains temporarily closed for safety maintenance. And for the second day in a row, the Palm Springs Library is closed due to an air conditioner malfunction.
The City says the pool at the Palm Springs Swim Center will remain closed due to continued necessary maintenance, water quality balancing, and cleaning following the recent power outage. “We are taking the time needed to ensure the pool meets important water quality safety standards," said Nicholas Gonzalez, Director of Parks and Recreation. "The goal now is to reopen the pool tomorrow (Thursday) as soon as it is safe to do so. We apologize for the inconvenience and look forward to welcoming the community back to the Swim Center soon."
As for the library, programs on Wednesday and Thursday will be moved to the Demuth Community Center at 3601 East Mesquite Avenue.
Wednesday, July 910:30 a.m. - Draw Along with Kyle (all ages)11L30 a.m. - Make a Vision Board (program for adults)2:00 p.m. to 4:00 p.m. - Open Play Mah Jong (program for adults)
Thursday, July 1010:00 a.m. - Preschool Story Time11:00 a.m. - Baby Story Time3:30 p.m. - Teen Taskmaster Challenge
Updates for the reopening of the Pool and Library will be shared as they become available. For more information, contact the Demuth Community Center at 760-320-6430.
Insider Guide: Palm Springs, California
Sunset Magazinehttps://www.sunset.com/travel/insider-guides/palm-springs-california-things-to-do
Sunset’s Insider Guide series highlights seasonal diversions and secret travel tips from local experts. Follow along as we learn where to eat, drink, stay, and shop.Meet the insider: Christine Soto, former owner of the sorely missed Dead or Alive Bar + ShopOn any given evening, you’d find a group of people—young and old—deep in conversation inside Dead or Alive. Christine Soto opened the Palm Springs bar and bottle shop to create a space for connection, and for folks to learn ab...
Sunset’s Insider Guide series highlights seasonal diversions and secret travel tips from local experts. Follow along as we learn where to eat, drink, stay, and shop.
Meet the insider: Christine Soto, former owner of the sorely missed Dead or Alive Bar + Shop
On any given evening, you’d find a group of people—young and old—deep in conversation inside Dead or Alive. Christine Soto opened the Palm Springs bar and bottle shop to create a space for connection, and for folks to learn about wine. To offer even more opportunities, she founded Palm Springs Wine Fest to celebrate California winemakers. Here are her tips for exploring her hometown.
WHERE TO EAT:
Soto is a fan of Bar Cecil, which is currently the hottest ticket in town. The intimate restaurant is led by chef Gabriel Woo, who was born and raised in Palm Springs. Try the deviled eggs and onion tart; or just order The Fifty Dollar Martini: The Beluga vodka cocktail is served alongside a deviled egg with caviar.
Head down Interstate 10 to Whitewater Preserve, a sprawling, lush oasis that’s nearly 3,000 acres. There’s free hiking around the Pacific Crest Trail, or you can dip your toes in the river.
WHERE TO STAY:
It doesn’t get better than a poolside room at the adults-only Sparrows Lodge. Soto also likes to hop over to Two Bunch Palms, a mineral hot springs resort and spa in Desert Hot Springs.
WHERE TO DRINK:
Two locals are behind the city’s only brewery, Las Palmas, where you’ll find a quaint outdoor patio and low-ABV table beer. After that, grab a Game Changer cocktail made with gin, cucumber, and onion brine at Truss & Twine. It’s attached to the acclaimed restaurant Workshop Kitchen + Bar.
WHERE TO SHOP:
Bohemian-chic home goods and apparel abound at Thick as Thieves, a downtown boutique. Soto also heads to Rancho Relaxo in nearby Rancho Mirage for accessories and decor.
Palm Springs fertility clinic resumes seeing patients after bombing
June 4https://www.cbsnews.com/losangeles/news/palm-springs-fertility-resumes-after-bombing/
The American Reproductive Centers in Palm Springs, which was the center of an alleged attack last week, reopened at a temporary location on Tuesday.Less than two weeks after a car bomb destroyed its original building, the full-service IVF lab moved its facilities to the El Mirador Medical Plaza just across the street on Indian Canyon Drive. Now, Dr. Maheer Abdallah and his staff will resume seeing patients looking to build their families and start their reproductive ...
The American Reproductive Centers in Palm Springs, which was the center of an alleged attack last week, reopened at a temporary location on Tuesday.
Less than two weeks after a car bomb destroyed its original building, the full-service IVF lab moved its facilities to the El Mirador Medical Plaza just across the street on Indian Canyon Drive. Now, Dr. Maheer Abdallah and his staff will resume seeing patients looking to build their families and start their reproductive journeys.
On the morning of May 17, a 25-year-old who the FBI says has "nihilistic ideations" allegedly bombed the center, destroying it and damaging several other businesses in the process. The suspect, Thousand Palms resident Guy Bartkus, died in the explosion.
Bartkus used commercially available chemical products to create the blast, the FBI says.
First responders managed to save the embryos located inside the clinic in a fast-acting recovery mission. A tearful Abdallah last week thanked firefighters during a news conference, who he says acted swiftly to preserve the future of many families that day.
"I'm thankful that my staff, the patients and all the embryos are safe," Abdallah said.
Abdallah vowed that the attack wouldn't deter him from his mission of helping families achieve healthy pregnancies. While the original building is demolished and rebuilt – a process which could take a lengthy amount of time – they'll work out of the El Mirador building and continue to see patients.
"We will rebuild," he said. "And I promise it will be on the same site and it will be better than before."
Austin Turner is a web producer at CBS Los Angeles. An Inland Empire native, Austin earned a degree in journalism from San Jose State University in 2020. Before joining CBS News in 2025, he worked at KTLA, the San Jose Mercury News, the Sedona Red Rock News and various other outlets as a freelance sports reporter.
Is gas going up in California? Why you may be hearing about a gas tax and a 65-cent hike
Paris Barrazahttps://www.desertsun.com/story/news/nation/california/2025/06/30/are-gas-prices-going-up-tomorrow-ca-gas-tax-increase/84419058007/
California’s excise gas tax will increase 1.6 cents per gallon on July 1 as the office of Gov. Gavin Newsom attempts to correct “disingenuous claims” about gas price spikes in the state.The excise tax rate per gallon will be 61.2 cents, an increase from its previous rate of 59.6 cents since last July. These rates are based on the percentage change in the California Consumer Price Index, according to the California...
California’s excise gas tax will increase 1.6 cents per gallon on July 1 as the office of Gov. Gavin Newsom attempts to correct “disingenuous claims” about gas price spikes in the state.
The excise tax rate per gallon will be 61.2 cents, an increase from its previous rate of 59.6 cents since last July. These rates are based on the percentage change in the California Consumer Price Index, according to the California Department of Tax and Fee Administration, which measures inflation.
Excise taxes are commonly passed on to consumers in the price of the product, according to Reuters.
As the increase in the excise gas tax takes effect comes a separate change related to California’s Low Carbon Fuel Standard. But it’s a specific claim tied to the Low Carbon Fuel Standard that Newsom’s office is calling “false” in a recent fact sheet: Gas prices will go up 65 cents or higher on July 1.
Figures from various experts and reports have floated around in the past several months over how the amended Low Carbon Fuel Standard regulation could result in an increase in gas prices per gallon in the future, from increases of 65 cents, 17 to 23 cents, 47 cents and 5 to 8 cents.
The Low Carbon Fuel Standard “reduces air pollution and greenhouse gas emissions by setting a declining target for the carbon in transportation fuels used in California,” said the California Air Resources Board. “Producers that don’t meet established benchmarks buy credits from those that do.”
The new rules begin July 1 and “ratchet up requirements for cleaner fuels and broaden a $2 billion credit market aimed at cutting emissions from cars, trucks and freight,” Cal Matters reported.
The Low Carbon Fuel Standard is not a tax, said Newsom’s office, and the regulation was approved by the California Air Resources Board in 2009, with amendments taking place over the years.
Newsom’s office cited the much smaller estimate of a 5 to 8 cent increase in its refute of the “false claim.” The 5 to 8 cent figure comes from a San Francisco Chronicle article from November that quoted Colin Murphy of UC Davis, who explained the likely increase in costs pass down to consumers.
Murphy, co-director of the Low Carbon Fuel Policy Research Initiative at the university, addressed concerns of a 65-cent jump in July in a blog post on June 30. Murphy said it “is not at all likely” prices would “actually jump that much.” What motorists are “likely to see” in July instead is an 8 to 9 cent per gallon increase, Murphy said.
Cal Matters reported that "no immediate hike in gas prices will occur" and that, according to experts, future impact is "uncertain."
How much are gas prices in California today?
According to AAA Fuel Prices, the average price of gas in California as of June 30 is $4.59. That’s about a dollar and 40 cents higher than the national average for the same day.
It’s lower than the average gas price in California from a week ago ($4.66) and from one month ago ($4.80), according to AAA Fuel Prices.
Paris Barraza is a trending reporter covering California news at The Desert Sun. Reach her at pbarraza@gannett.com.
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