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   The algorithm behind $7 gas
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   Plus: Recessionary job cuts across U.S. factories.
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          Wednesday, June 24, 2026
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           Meet Kalibrate, the AI tool accused of inflating California's gas prices
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          A group of California drivers has filed a proposed class 
action against BP, Marathon, Walmart, and other gas station operators, accusing them of using an artificial intelligence pricing tool to fix fuel prices statewide. Kalibrate, the software company behind the tool, is named as a co-defendant. The complaint alleges Kalibrate's platform harvests data from competing stations to push prices higher, forming what the filing calls an "AI-powered trust" to eliminate competition.
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          The lawsuit invokes two legal bases: The Cartwright Act, California's primary antitrust law that 
prohibits competitors from conspiring to restrain trade, and Assembly Bill 325, which targets the use of algorithms to manipulate consumer prices.
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          The financial toll is significant. Prices in markets with heavy Kalibrate adoption have climbed by as much as 30 cents per gallon, with some stations posting gas as high as $7. The filing estimates that every added penny costs California motorists $134 million annually.
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          The lawsuit arrives as California's fuel supply faces genuine structural pressure.
The state receives no pipeline deliveries from Gulf Coast refiners and has lost roughly a fifth of its local refining capacity since two in-state facilities closed in October 2025, leaving drivers with few options and, plaintiffs argue, prices with nowhere to go but up.
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                  SPONSORED
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                 <h2 style="mso-line-height-rule:exactly;Margin:0;font-family:Arial;font-size:20px;font-weight:bold">
                  Real Flowers Outlast the News Cycle
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                   Real flowers preserved to look and feel fresh for up to 3 years with no upkeep. A polished gift for clients, a partner, or your own desk. Quartz readers get 15% off with code QUARTZ15 through July 4.
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                                  Shop Lasting Flowers
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                  15% off orders $90+ with code QUARTZ15. Ends July 4.
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          <h2 style="mso-line-height-rule:exactly;Margin:0;font-family:Arial;font-size:20px;font-weight:bold">
           Should AI pricing tools be banned at the pump?
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                          <td align="center" bgcolor="#105C8E" style="text-align:center;-webkit-border-radius:6px;-moz-border-radius:6px;border-radius:6px;font-size:16px;font-family:Arial,Helvetica,sans-serif">
                           <!--[if !mso]><!-->
                           <a style="-webkit-border-radius: 6px; -moz-border-radius: 6px; border-radius: 6px; color: #FFFFFF; text-decoration: none; font-family: Arial; font-size: 16px;  border: none; display: block; 
">
                            Yes. AI has no place setting gas prices
                           </a>
                           <!--<![endif]-->
                           <!--[if mso]><a href="https://www.ne16.com/t/10907306/222404108/10042554/1/1009235/?abb9e380=NGYzZmQyODYtMmZhOS00YzdjLWFkYzktMzQyOGNhZmI3ZDBl&f5d63f87=REIlMjAwNi0yNA&x=78580942" target="_blank" style="-webkit-border-radius: 6px; -moz-border-radius: 6px; border-radius: 6px; color: #FFFFFF; text-decoration: none; font-family: Arial; font-size: 16px;  border: none; display: block; ">Yes. 
AI has no place setting gas prices</a><![endif]-->
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border-spacing: 0; border-collapse: collapse; mso-table-lspace:0; mso-table-rspace:0; mso-margin-top-alt:0px; mso-margin-bottom-alt:0px; mso-padding-alt: 0px 0px 0px 0px;" width="100%">
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                          <td align="center" bgcolor="#105C8E" style="text-align:center;-webkit-border-radius:6px;-moz-border-radius:6px;border-radius:6px;font-size:16px;font-family:Arial,Helvetica,sans-serif">
                           <!--[if !mso]><!-->
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">
                            No. Companies should price however they want
                           </a>
                           <!--<![endif]-->
                           <!--[if mso]><a href="https://www.ne16.com/t/10907306/222404108/10042555/1/1009235/?abb9e380=NGYzZmQyODYtMmZhOS00YzdjLWFkYzktMzQyOGNhZmI3ZDBl&f5d63f87=REIlMjAwNi0yNA&x=19fb2f0d" target="_blank" style="-webkit-border-radius: 6px; -moz-border-radius: 6px; border-radius: 6px; color: #FFFFFF; text-decoration: none; font-family: Arial; font-size: 16px;  border: none; display: block; 
">No. Companies should price however they want</a><![endif]-->
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               <a data-linktext="The U.S. tech selloff goes global on AI spending fears." data-linktype="Normal" style="color:#105C8E" target="_blank">
                The U.S. tech selloff goes global on AI spending fears.
               </a>
              </strong>
              Anxiety over rising capital outlays drove a rout that hit memory chip stocks, rocked South Korea's Kospi, and ended the Nikkei's eight-day winning streak. Defensive names 
Walmart and Johnson &amp; Johnson rose as investors sought steadier ground.
             </div>
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Images" style="color:#105C8E" target="_blank" title="Bloomberg / Getty Images">
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              <strong style="color: var(--blue-cta-default)">
               <a data-linktext="Oracle 
says it cut 21,000 jobs in the past year because of AI." data-linktype="Normal" style="color:#105C8E" target="_blank">
                Oracle says it cut 21,000 jobs in the past year because of AI.
               </a>
              </strong>
              The company nearly tripled capital spending to $55.7 billion to build AI infrastructure while shedding workers. Meta similarly cited AI in laying off 8,000 people. AI has been the leading cause of U.S. job cuts for the last three months.
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              <img alt="NurPhoto / Getty Images" class="img100" data-linktype="Normal" data-target="_blank" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fqz.com%252Fcdn-cgi%252Fimage%252Fwidth%253D640%252Cheight%253D360%252Cfit%253Dcover%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FGettyImages-2280580666.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3ODIyOTYwOTMuMTczOTIzfQ:1wcKdB:HymN-1xx4BaCQbW2AJ-1oh_xYq05kHCt6RlFqN3yATU" style="width:200px;max-height:338px;vertical-align:middle;border:0" width="200"/>
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              <strong style="color: var(--blue-cta-default)">
               <a data-linktext="Meta is building a prediction markets platform called Arena." data-linktype="Normal" style="color:#105C8E" target="_blank">
                Meta is building a prediction markets platform called Arena.
               </a>
              </strong>
              CEO Mark Zuckerberg pushed the development of the points-based app, which won't allow real-money wagering at launch. Meta plans to use its 3.56 billion daily users as a 
pipeline. The sector saw $130 billion in trading volume in 2026 alone.
             </div>
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               <a data-linktext="Nvidia claims its AI factory cooling design eliminates water use." data-linktype="Normal" style="color:#105C8E" target="_blank">
                Nvidia claims its AI factory cooling design eliminates water use.
               </a>
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              A closed loop recirculates coolant without drawing on external water, saving a 50-megawatt facility more than $4 million a year. Critics say the tally excludes consumption by power plants, which can double the real footprint.
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             <a aria-label="Angela Weiss / Getty Images" style="color:#105C8E" target="_blank" title="Angela Weiss / Getty Images">
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                Pfizer's experimental lung cancer treatment falls short in a trial.
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              The drug didn't help 703 patients with prior therapy live longer than docetaxel, a common chemotherapy. 
The company bought it as part of its $43 billion Seagen purchase in 2023. A new test combining it with Merck's Keytruda is underway.
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               Their previous raises sold out, and the company is now offering pre-IPO shares at $0.52/share with up to 20% bonus, exclusive to early investors.
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                              Grab your pre-IPO shares at $0.52.
                             </a>
                             <!--<![endif]-->
                             <!--[if mso]><a 
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             <div style="font-size: 10px">
              <span style="color:#6C6B6B">
               Please read the
              </span>
              <a data-linktext="offering circular" data-linktype="Normal" style="color:var(=-blue-cta-default)" target="_blank">
               offering circular
              </a>
              <span style="color:#6C6B6B">
               and related risks at
              </span>
              <a data-linktext="invest.modemobile.com" data-linktype="Normal" style="color:var(=-blue-cta-default)" target="_blank">
               invest.modemobile.com
              </a>
              <span style="color:#6C6B6B">
               . This is a paid advertisement for Mode Mobile’s Regulation A+ Offering.
              </span>
             </div>
             <div style="font-size: 10px">
              <br/>
             </div>
             <div style="font-size: 10px">
              <span style="color:#6C6B6B">
               Mode Mobile recently received their ticker reservation 
with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur.
              </span>
             </div>
             <div style="font-size: 10px">
              <br/>
             </div>
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              <span style="color:#6C6B6B">
               The Deloitte rankings are based on submitted applications and public company database research, with winners selected based on their fiscal-year revenue growth percentage over a three-year period.
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