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Energy trading firms Vitol and SK Trading International have agreed to pay $50 million to settle allegations by California's attorney general that they manipulated the state's gasoline market. The lawsuit, which was lodged in May 2020, accused the companies of colluding to raise gas prices, causing consumers to pay higher prices. The settlement resolves claims that the firms secretly worked together to tamper with and manipulate spot market prices for California gasoline. California Attorney General Rob Bonta announced the settlement on July 10, 2024.
Energy trading firms Vitol and South Korea’s SK Trading International will settle a lawsuit that California lodged in May 2020 accusing them of violating a state law that promotes fair competition, the state attorney general’s office said on July 10 https://t.co/HvjmSiRslY https://t.co/HX0O6wOKn3
Energy trading firms Vitol and South Korea’s SK Trading International have agreed to pay $50M to resolve a lawsuit from the state of California accusing them of manipulating its gasoline market and causing consumers to pay higher prices @MikeScarcella https://t.co/FZ56erSKnE https://t.co/en32feLXcZ
Two companies agree to pay $50 million over allegations they manipulated California gas prices https://t.co/b3QUIRkgRR
