Phillips 66 Company is currently embroiled in a legal battle following a lawsuit brought by Propel Fuels Inc. The Superior Court of the State of California, Alameda County, recently ordered Phillips 66 to pay $195 million in exemplary damages to Propel Fuels, in addition to $604.9 million in compensatory damages previously awarded by a jury verdict in October 2024. The lawsuit centers around allegations made by Propel Fuels, which Phillips 66 denies, asserting that the exemplary damages are neither legally nor factually justified. Phillips 66 plans to contest the decision and pursue post-judgment remedies, including an appeal, though the outcome of these efforts remains uncertain.
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