Bank account payments are beginning to be made as California drivers filed a request to cut the settlement cut of $50 million over price gouging at gas pumps.
More than one million Californians have begun receiving $21.65 since late April, according to the Attorney General’s Office.
Depending on what the requester chooses as preference, the money will arrive via checks, direct deposits, or via Benmo.
The payments arise from a settlement between California and the three petrol trading companies. This was in violation of California antitrust law nine years ago, working together to manipulate gas prices, according to Atty’s office. General Rob Bonta.
The company will use the market turmoil to “engage in a plan to raise gas prices for its own profits,” officials said, after an explosion at the Exxon Mobile Refinery in Torrance in February 2015. As a result, California consumers have paid more for gas.
In July, the trading company settled with California, and as part of the settlement, Vitol, SK Energy Americas and South Korea’s SK Trading International agreed to pay $50 million to the two settlement funds. Of the total, $37.5 million will be distributed to consumers as compensation for violations of the Cartwright Act.
The settlement did not include negligent entry from the trading company.
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