If you purchased gas in Southern California between February 20, 2015, and November 10, 2015, Attorney General Rob Bonta is encouraging you to submit a claim for a possible payout. The state has settled with gas trading companies accused of manipulating prices during that period, and those affected could now receive compensation.
This settlement involves several Southern California counties, including Los Angeles, San Diego, Orange, Riverside, San Bernardino, Kern, Ventura, Santa Barbara, San Luis Obispo, and Imperial. The companies at the center of the settlement, Vitol, Inc. and SK Energy Americas, Inc., allegedly manipulated gas prices in the spot market, causing residents to pay inflated rates.
Eligible Californians can file claims online at www.CalGasLitigation.com, with a deadline to submit by January 8, 2025. While the exact payout amounts remain unknown, they will depend on how many claims are submitted.
Attorney General Bonta made a statement regarding the settlement, saying, “Market manipulation and price gouging are illegal and unacceptable, especially when people are already struggling. I am proud to help Californians get some relief from this injustice.”
Back in July, Bonta announced a $50 million settlement with the firms involved, marking a victory for consumers who were subjected to overcharges during the period in question. This is separate from a class action lawsuit filed in federal court, which also addresses the alleged manipulation.
In addition to this settlement, California lawmakers are working to pass legislation that would prevent future gas price hikes by requiring energy companies to maintain a minimum fuel inventory. This measure, supported by Governor Gavin Newsom, aims to stabilize gas prices, particularly during times of high demand when refinery maintenance occurs. However, some critics argue that the proposal could lead to increased costs and raise safety concerns by interfering with refinery schedules.
With gas prices in California remaining among the highest in the country, the average cost for regular unleaded is about $4.68 per gallon compared to the national average of $3.20. The California Energy Commission has pointed out that the state’s reliance on just four major refiners makes it especially vulnerable to price spikes when one company goes offline for maintenance.
