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BP

BP allegedly made $20 million in illegal profits by cornering the U.S. market for TET propane gas in early 2003 and 2004. A class action lawsuit claims that traders and executives working for BP's North American trading arm manipulated the market and forced the price of TET propane up by more than 50 per cent to some 90 cents a gallon in late February 2004. The lawsuit claims that many millions of consumers were forced to pay too high a price for their heating fuel. The Commodity Futures Trading Commission (CFTC) is looking for repayment of the alleged illegal profits plus financial restitution and damages.

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Last updated on Jul-5-06

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