The crash happened near the Tustin Avenue on-ramp shortly before 1 a.m. Wednesday just east of Harbor Boulevard.
Vanessa Cease, 24, of Long Beach and Alan Reyes, 26, of Diamond Bar were pronounced dead at the scene, said coroner's officials.
Fragoso suffered major injuries and was taken to UCI Medical Center in Orange in critical condition where he was arrested on suspicion of DUI, said CHP officer Ray Payton.
Fragoso has been charged with vehicular manslaughter with gross negligence.
Charges could escalate if tests come back positive for drugs or alcohol, Payton says.