Drivers in Southern California who purchased gasoline in 2015 have until Jan. 8 to submit a claim form to receive a payment from a $50 million settlement.
California Attorney General Rob Bonta announced on Oct. 2 that millions of Californians may be eligible for a payout in a $50 million settlement with oil companies.
Those who choose not to submit a claim can opt out or express concerns about the settlement.
The amount given to each eligible individual will be determined by the number of claims received by the deadline on Jan. 8, 2025. Each eligible applicant is limited to one claim.
No payments will be distributed until the court finalizes the settlement, with a hearing scheduled for Feb. 28, 2025, in San Francisco. The public is welcome to attend, and the presiding judge may consider public comments before issuing a ruling.
Appeals could potentially delay the payment process, as resolving them may take more than a year, as per the attorney general.
In a lawsuit filed in July 2020, the state accused Vitol, SK Energy Americas, and SK Trading International of colluding to manipulate gas prices in California following an explosion at a refinery in Torrance in February 2015.
The settlement, announced by Bonta in July, allocates $37.5 million to eligible applicants, with the remaining $12.5 million designated for consumer protection efforts by state and local governments.
If the firms resume operations in California, they are required to provide daily reports to the Energy Commission on transactions and weekly reports on inventory volume and other metrics.
Senate Bill X1-2, passed last year, grants the California Energy Commission authority to regulate profit margins for oil refineries, with a proposal for further regulation under consideration in the Legislature.
While supporters believe these measures could lower gas prices and expand reserves, critics argue they may lead to supply reductions, higher prices, and job losses.
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