Case Description
Plaintiff state sued two gasoline trading firms, Vitol Inc. and SK Energy Americas, alleging that they took advantage of market disruptions from a 2015 refinery explosion in Torrance to improperly drive up the gasoline prices. The state sought an injunction, damages, restitution, and civil penalties. The complaint alleged that the two companies made manipulative trades and selectively reported them to Oil Price Information Service LLC, the state’s largest gasoline reporting service, to inflate baseline gasoline prices and sell their products at a higher price. The state alleged violations of California’s Cartwright Act and California’s Unfair Competition Law.
