Loading...
Market
Will California announce new investigations into gasoline market manipulation by other firms by end of 2024?
2
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcements from the California Attorney General's office or credible news outlets
Story
Vitol and SK Energy Settle California Gasoline Market Manipulation Case for $50 Million
Jul 10, 2024, 05:14 PM
Energy trading firms Vitol and South Korea’s SK Trading International have agreed to pay $50 million to resolve allegations by California's attorney general that they manipulated the state's gasoline market. The lawsuit accused the firms of secretly working together to tamper with and manipulate spot market prices for California gasoline, causing consumers to pay higher prices. This settlement marks a significant resolution in the state's efforts to regulate and maintain fair market practices in the energy sector.
View original story
Similar markets
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Files new lawsuits • 25%
Implements new regulations • 25%
Issues fines • 25%
No significant actions • 25%
Yes • 50%
No • 50%
Gasoline prices significantly decrease • 25%
Gasoline prices slightly decrease • 25%
Gasoline prices remain stable • 25%
Gasoline prices increase • 25%
Yes • 50%
No • 50%
