MyGallons.com

Your Pain, Their Gain: How High Gas Prices Impoverish The Many While Enriching The Few

MyGallons.com — 2011-04-30T22:59:13+00:00

The next time you’re gritting your teeth as you fill your tank with $4 gas, here’s something to consider: Your pain is their gain.
The last of the Big Five oil companies announced first-quarter earnings Friday, so the totals are in. Between the five of them, ExxonMobil, BP, Shell, Chevron, and ConocoPhillips made $34 billion in profits in the first three months of 2011—up 42 percent from a year ago.
That’s about $110 for every man, woman, and child in the United States—in just three months. Read more.

Exxon Mobil profit to rise on $100 oil. Quarterly profit seen approaching $10 billion for first time

MyGallons.com — 2011-04-25T20:30:15+00:00

NEW YORK (MarketWatch)—Exxon Mobil Corp. will lead a strong first-quarter earnings season for energy companies this week, with the largest U.S.-based oil and gas producer’s balance sheet fueled by $100-a-barrel oil.

The increase in Big Oil’s bottom line comes despite lower production forecasts in the face of supply disruptions in Libya and elsewhere, as well as output limits based on contractual agreements between oil companies and state-run enterprises that own overseas oil and gas fields. Read more.

$6 Gas? Could Happen if Dollar Keeps Getting Weaker

MyGallons.com — 2011-04-21T13:44:41+00:00

A dollar plumbing three-year lows is hitting Americans squarely in the gas tank, and one economist thinks it could drive prices as high as $6 a gallon or more by summertime under the right conditions.

With the greenback coming under increased pressure from Federal Reserve policies and investor appetite for more risk, there seems little direction but up for commodity prices, in particular energy and metals. Weakness in the US currency feeds upward pressure on commodities, which are priced in dollars and thus come at a discount on the foreign markets. One result has been a surge higher in gasoline prices to nearly $4 a gallon before the summer driving season even starts, a trend that economists say will be aggravated as demand increases and the summer storm season threatens to disrupt oil supplies. Read more.

Rising Gas Prices Force Consumers To Make Choices

MyGallons.com — 2011-04-14T20:18:23+00:00

In some parts of the country, gasoline prices have hit $4 a gallon. The U.S. Energy Department estimates gas prices nationally will average $3.86 per gallon through the summer. That’s a big increase — up nearly 40 percent compared with last year. So what does that mean for the economy?

Economists are trying to figure out how much rising gasoline prices will hurt consumer confidence and consumer spending. Read more.

Oil And Gas Prices – How High Will They Go?

MyGallons.com — 2011-04-05T13:23:23+00:00

Oil prices topped $107 a barrel Friday, April 1, 2011 after a better-than-forecast U.S. jobs report for March, while concerns over anti-government forces in Libya added to uncertainty about oil supplies. A close around these levels would be the highest since late September 2008.

Gas prices skyrocketed during the entire month of March 2011. The current average for a gallon of unleaded regular gas is $3.61. One month ago, gas prices were at $3.38. Gas prices have risen 23 cents in the last month, according to the AAA Fuel Gauge Report, the Oil Price Information Service and Wright Express as of April 1, 2011. Read more.

Nice job taking advantage of the temporary price drop

MyGallons.com — 2011-03-21T20:45:19+00:00

Congratulations to the MyGallons and MoreGallons members who acted on the information we posted on March 14th when the price of gas was going down due to unrest in the world. Prices reacted just as the experts suggested and what our CEO described: the price of gas dropped significantly for a few days and then came roaring back to challenge the old highs. Many experts point to the speed of the 27 cents per gallon increase (it took about 3 business days) as further support for their belief that prices are about to go much higher. The talk around the water cooler seems to be about when we will hit $5 per gallon as if $4 is a foregone conclusion.

Many of our members are glad that they bought gallons to add to their account when the prices dropped and continue to buy more every day. Locking-in current prices gives them peace of mind that they are protected for as long as they want to hold their gallons.

As always, we encourage you to do your own research so you can make an informed decision as to whether the MyGallons Secure Fuel Savings program is a good fit for you and if now is the time to stock up of gas to protect yourself and your wallet from volatile energy prices.

Your friends at MyGallons and MoreGallons.

Japan Disaster = Higher Energy Prices

MyGallons.com — 2011-03-14T13:57:26+00:00

I find it interesting that some experts are predicting a lasting drop in oil and gas prices as a result of the natural disasters ravaging Japan. Although prices may fall in the very near term as a result of decreased demand coming out of Japan, intermediate and long-term demand will increase as a result of the disaster. First, the increased demand will come from an increase in fuel consumption as Japan rebuilds. Second, there will be increasing pressure to halt or delay development of nuclear power plants for fear that they are not really safe as they point to the damaged plants in Japan. The result will no doubt increase the use of fossil fuels to generate the growing demand for electricity.

MyGallons and MoreGallons customers are taking advantage of the recent price drop that began on Friday by pre-purchasing more fuel for their accounts and locking-in the lower prices before its too late.

Our prayers go out to those affected by this terrible natural disaster.

Sincerely,

Steven Verona
CEO
MyGallons.com

Wake up America! What we should be asking about gas prices.

MyGallons.com — 2011-03-09T20:43:38+00:00

If you have been watching the news, especially financial news, you have no doubt been hearing some experts argue that oil should not be this high and the current prices are all driven by speculation. A few minutes later you will hear a different expert claiming supply and demand issues have driven the price increase. The real question that nobody seems to be asking is: “Who cares why oil and gas prices are moving up, what can be done about it?!”

At the end of the day, who cares WHY we will be paying $5 per gallon for gas? Will it make you feel better when you lay out your hard earned cash to know that the price is artificially high due to speculation or politics? Or would you feel relieved to know that it’s true supply and demand that sucks your wallet dry?

Its time to start asking what can be done to control the high prices! Here is one suggestion: The government can regulate the price of gas in a similar fashion to utilities such as electricity and water. For instance, the price can be fixed at $5 per gallon when “real prices” would have been $3 per gallon. The government will effectively collect a $2 tax that can be used to fund development of alternative energy and be held as a reserve to offset expenses when the “real price” rises above the $5 level. Those of you who know that I am the CEO of MyGallons.com (providers of the fixed price fuel savings program for consumers wanting to lock-in current prices) are probably surprised to read this suggestion since it would effectively end the need for our service. I developed MyGallons to help people protect themselves from rising gas prices, but nothing would make me happier than to see the day when there is no longer a need for our service. Ideally, MyGallons would fade away as we end our dependency on fossil fuels. I am perfectly happy to close the doors if effective price controls were put in place by our government.

It’s time for a real change, not just talk. Ask your Senators, Congressmen or President Obama to contact me at so I can show them how to lead our nation with an effective energy policy to insure our national security and economic prosperity.

Steven Verona
CEO
MyGallons.com

(video) Lock in gas prices now before they go up… Again!

MyGallons.com — 2011-03-09T19:32:28+00:00

Watch the video here.

LOCK IN GAS PRICES NOW BEFORE THEY GO UP… AGAIN!

MyGallons.com — 2011-03-09T15:32:30+00:00

People are paying more at the pumps, causing many consumers to seek relief. While Wyoming is one of the lucky states, enjoying a lower average per gallon than most, many in Casper were shocked to see prices jump to over three dollar this week. Some people have begun using pre-paid gas cards as a way to budget their money, and others have started carpooling or walking when possible. Read more.