Californians who filled up their vehicles in specific counties in 2015 may soon see extra cash in their pockets, thanks to a legal settlement with gas trading companies accused of price fixing. As KTLA reports, the state's Attorney General Rob Bonta announced a settlement allowing drivers who purchased gas between February 20 and November 10, 2015, to submit a claim for part of a $50 million payout, an outcome of litigation with firms Vitol Inc. and SK Energy Americas Inc., along with SK's parent company.
The allegations of price tampering, which hung heavy over the gas firms, led to a deal brokered in July. While the companies implicated have not admitted to wrongdoing, defrauded drivers from a swath of Southern California counties – a list inclusive of Los Angeles, San Diego, and nine others – are to receive their share. Information shared by NBC Los Angeles details that of the settlement, $37.5 million will directly compensate the affected consumers. A separate class-action lawsuit also seems to be brewing, potentially expanding the financial fallout for the firms.
With price gouging, especially in times of economic strain, placing undue hardship on Californians, lawyers for the state set the narrative straight – these corporate actions will not stand unchallenged. “Market manipulation and price gouging are illegal and unacceptable, particularly during times of crisis when people are most vulnerable,” Bonta said in a news release obtained by both FOX LA. Those eligible can file their claims online.
Characterized by Bonta as combative against corporate greed, the settlement sends a message that California's justice system is willing to hammer out recompense for those impacted. The relief comes against the backdrop of soaring gas prices, which as noted by FOX LA, continue to eclipse the national average by more than $1.50 per gallon. Claimants have until January 8, 2025, to state their case for compensation on the website set up for the settlement.
