ExxonMobil Ordered To Pay Overcharged Stations

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ExxonMobil Ordered To Pay Overcharged Stations

05/23/2005
FAIRFAX, Va. -- A federal judge has ordered oil giant Exxon Mobil Corp. to pay damages to more than 10,000 gas station owners who were overcharged for their gasoline for more than a decade, reported Reuters.

With some potential recoveries at more than $1 million, the ruling could cost the company as much as $1.3 billion, an attorney for the plaintiffs told Reuters.

Under the order handed down in Miami by Judge Alan Gold Wednesday, ExxonMobil would have to pay the class members damages of 1.3 cents per gallon for every gallon of gasoline they purchased from the company from 1983 to 1994, said attorney Mark Dikeman.

The suit was originally filed in May 1991 with Exxon's liabilities established at trial in 2001, but payments were delayed while Exxon appealed the case. Those efforts proved unsuccessful, and with the interest accrued over the years, Exxon now potentially owes the class members $1.3 billion.

An Exxon spokesperson was not immediately available to comment on the ruling, according to Reuters. Dikeman said Exxon still had the option of appealing Judge Gold's latest ruling.