Oil companies used Torrance gas explosion to inflate prices, drivers could cash in

California drivers may be able to cash in on a $50 million settlement from a lawsuit against Vitol and SK.

California Attorney General Rob Bonta’s office sued the gas trading firms over claims they manipulated the market by raising gas prices after an explosion at a gasoline refinery in Torrance in February 2015.

“Petroleum companies should not get to reap mass profits out of the pockets of hardworking Californians through illegal market manipulation,” Bonta said in a press release . “Market manipulation and price gouging are illegal and unacceptable, particularly during times of crisis when people are most vulnerable.”

Want to get caught up on what's happening in SoCal every weekday afternoon? Click to follow The L.A. Local wherever you get podcasts.

The amount each driver will receive from the settlement depends on how many people sign up.

The court still has to authorize an issuance of notice to California residents. Once the authorization is done, people can submit a claim at www.calgaslitigation.com .

Follow KNX News 97.1 FM
Twitter | Facebook | Instagram | TikTok