BP Propane Indirect Purchaser Antitrust Litigation Settlement

If you are a casual or regular tailgater, more than likely you have purchased propane in the past. Last October we encouraged you to refill your propane tanks instead of exchanging them because of possible short filling. In November we learned of a possible Propane Refill Class Action Lawsuit directed at propane suppliers Blue Rhino and Amerigas. Now comes news that a class action settlement is coming against BP alleging they manipulated the TET propane market during April 2003 and again between February 1, 2004 and March 31, 2004. The class action lawsuit is claiming BP thereby violated antitrust and state consumer protection laws. All the pertinent details can be found on the web at: BP Indirect Propane Settlement

The nuts and bolts of the claim is that TET propane is propane transported in the Texas Eastern Products Pipeline Company (TEPPCO) pipeline system, which is the primary source for propane used in residential, commercial and agricultural heating in the northeastern United States. TEPPCO is the largest single storage facility for physical propane in the world. Manipulation of the propane market caused inflated pricing not only for TET propane but for other non-TET propane as well. As a result, people who purchased propane between February 1, 2004 and March 31, 2004 paid higher prices for propane than they would have if the market had not been manipulated. Those states potentially affected by this alleged manipulation are Alabama, Arkansas, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia, West Virginia and Wisconsin.

I read over the claim and if you believe you have been affected by this, you should submit your claim to be compensated. A cash settlement fund of $15,250,000 has been allocated for distribution of benefits to the BP Indirect Propane Purchaser Class action Members. You will need to submit paper work and a proof of claim that you purchased propane within that time window. Receipts kept from that time period would provide the most accurate proof of claim however they are not 100% required. All potential eligible transactions claimed are subject to audit by the Administrator and Class Counsel.

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