In 2015, if you happened to fill up your gas tank in Southern California, it is likely that two major trading companies took advantage of you. The California Attorney General has recently revealed this information and has announced a settlement of $50 million. This settlement could potentially provide some compensation for those who were affected.
Dustin Hayes, as he was paying for gas, commented on the situation in San Diego, describing it as “crazy.”
San Diegans find the cost of filling their gas tanks “atrocious” and “horrible”, according to their own words.
At the pump, Andy Pedroza expressed his current situation, “I’m running low on gas and can only afford to put in two gallons for the rest of the work week, specifically for Thursday and Friday. I try not to drive during the rest of the weekend since I can’t afford it.” Andy’s financial constraints have limited his ability to fill up his gas tank fully.
The high gas prices of today may be beyond our control, but there is a glimmer of hope for some California drivers who purchased gas in 2015. The Attorney General recently made an announcement stating that these drivers may be eligible for reimbursement.
Vitol and SK Energy Americas have agreed to a $50 million settlement as part of a lawsuit alleging that they colluded to manipulate California’s spot market. The lawsuit alleges that the two companies overcharged gas stations and raised the price at the pump by working together to manipulate the market. The settlement was reached on Wednesday.
According to Jamie Court from Consumer Watch Dog, two traders were involved in a fraudulent scheme to manipulate the price of gas on the spot market by falsely buying and selling gas.
An advocacy nonprofit, which played a key role in passing SBX1-2 last year to prevent market manipulation similar to this in the future, collaborates with Court.
Court emphasized the requirement of recording and reporting every trade to the state, stating that there was no official record of trades before this mandate.
The exact amount of money that a driver can receive from the settlement is yet to be determined. It will be calculated based on the total number of individuals who submit their claims.
Pedroza confirmed that he would file a claim now that he is aware of it.
Hayes pondered, “Is it really worth receiving a $20 or $30 refund?”
After the court grants permission for the issuance of notice to California residents, you can conveniently file a claim on the website www.CalGasLitigation.com.