Jun. 23 at 11:14 AM
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BP, Marathon, Walmart sued for using AI to boost gas prices, Reuters
California drivers filed a proposed class action accusing gas station operators, including BP (BP), Walmart (WMT), Marathon Petroleum (MPC), Albertsons (ACI), Circle K, and 7-Eleven, of using an AI-based pricing platform from Kalibrate to coordinate gasoline prices and inflate costs at the pump in violation of California's Cartwright Act and the state's new rules targeting algorithmic price coordination, Reuters' Jonathan Stempel reports. The complaint alleges that shared pricing signals reduced competition and may have increased prices by up to 30c per gallon in some areas, while the companies have not been found liable and the allegations remain to be proven in court.
