MyGallons.com

Online company says it can help people battle high gas prices

MyGallons.com — 2012-03-29T12:48:36+00:00

No one’s happy about gas prices these days, but WNEM has found a business that claims to help people who are sick of the roller coaster prices. The company is called MyGallons.com. They claim to offer a service where consumers can buy gas and stockpile it at today’s prices and lock in the current price, protecting them from any future price increases. Read More

Gas prices loom large in the South on Super Tuesday

MyGallons.com — 2012-03-07T00:46:54+00:00

Gas prices were an important factor for a significant majority of voters in primary states today, according to CBS News early exit polling. And as in other states that have voted in the Republican presidential nominating contests, the economy is the top issue for primary voters today, and electability remains the most important candidate quality. Read More

Is this the time to lock-in prices?

MyGallons.com — 2012-03-06T14:12:55+00:00

Gas prices have been rising on the back of soaring oil prices, which have surged 10% over the past month amid fears that tensions with Iran will lead to an all-out war that causes a disruption in oil supplies. Signs of an improving economy have also boosted oil prices, as has the stock market. All three major indexes hit multi-year highs in the past week, but have finished in the red for the past two trading days. Read More

Oil Is the New Greece: HSBC Chief Economist

MyGallons.com — 2012-03-05T14:14:02+00:00

Rising oil prices have displaced Greece as a source of investor anxiety, a new HSBC report says, warning that if the trend of rising oil prices persists, a fragile economic recovery in the developed world could quickly be derailed, and inflation could return to emerging markets. Oil prices have risen to all-time highs in euro and sterling terms in recent days and are edging close to the $147 per barrel high seen in 2008, mainly as a result of rising tensions over Iran. HSBC Chief Economist Stephen King said in the report that sanctions against Iran have already led to supply shortages which have doubtless lifted oil prices. There are also plenty of other Iranian-related issues to worry about, he said. Read More

Price of gas surging

MyGallons.com — 2012-03-01T15:57:44+00:00

The price of gas has jumped 45 cents since Jan. 1 and is the highest on record for this time of year, an average of $3.73 per gallon. On Wall Street, talk has turned from the European debt crisis to another worry: Will higher gas prices derail the economic recovery? Read More

Wall Street greed fueling high gas prices

MyGallons.com — 2012-02-28T23:38:24+00:00

Gas prices approaching $4 a gallon on average are causing severe economic pain for millions of Americans. Pump prices spiked 5% in the past month alone. Crude oil prices stood at $108 on Friday, up from only double digits at the beginning of the month. What’s the cause? Forget what you may have read about the laws of supply and demand. Oil and gas prices have almost nothing to do with economic fundamentals. According to the Energy Information Administration, the supply of oil and gasoline is higher today than it was three years ago, when the national average for a gallon of gasoline was just $1.90. Meanwhile, the demand for oil in the U.S. is at its lowest level since April of 1997.

Is Big Oil to blame? Sure. Partly. Big oil companies have been gouging consumers for years. They have made almost $1 trillion in profits over the past decade, in part thanks to ridiculous federal subsidies and tax loopholes. I have proposed legislation to end those pointless giveaways to some of the biggest and most profitable corporations in the history of the world. But there’s another reason for the wild rise in gas prices. The culprit is Wall Street. Speculators are raking in profits by gambling in the loosely regulated commodity markets for gas and oil. Read More

What Can US Do to Halt Rising Gas Prices? Not Much

MyGallons.com — 2012-02-27T23:45:31+00:00

Rising gas prices are always a bad thing for an incumbent president, especially one heading into a tough re-election battle. But President Obama admitted in a speech in Miami last week that there’s not all that much he can do to blunt the impact of prices, which some analysts think could be heading toward $5 per gallon nationwide this summer. “The amount of oil that we drill at home doesn’t set the price of gas by itself,” Obama said. “The oil market is global. Oil is bought and sold in a world market. And just like last year, the single biggest thing that’s causing the price of oil to spike right now is instability in the Middle East — this time, around Iran. When uncertainty increases, speculative trading on Wall Street increases, and that drives prices up even more.” Read More

Iran Could Lead to $7-Per-Gallon Gas

MyGallons.com — 2012-02-27T13:20:42+00:00

Gas prices are virtually guaranteed to soar — maybe even to $7 per gallon — as concerns over Iran push crude oil higher, Mercbloc President Dan Dicker said Friday. “We have a gas situation here that can’t do anything but go up,” he said on “Fast Money.” “Most everybody is long. It’s definitely going to go higher.” Dicker said $4-per-gallon gas is almost a certainty, with a strong likelihood of it hitting $5 by summer, amid threats of supply disruption from Iran. “If the Israelis lose their patience, it might in fact go to $7,” he said. Read More

Gas prices climb for 20th day

MyGallons.com — 2012-02-27T13:18:30+00:00

Gas prices continued their march toward $4 on Monday, rising for the 20th day in a row. The nationwide average rose to $3.70 a gallon, up one cent from a day earlier, according to the motorist group AAA. Only a month ago, the nationwide average was $3.41 a gallon. Read More

MyGallons Triumphs Again: US Bancorp loses $4M defamation suit

MyGallons.com — 2012-02-24T17:35:56+00:00

A federal judge in North Carolina has upheld a jury’s $4 million defamation verdict against U.S. Bancorp. The new ruling knocked down the bank’s request for a retrial or smaller award to Miami-based prepaid gas card provider MyGallons, which blamed U.S. Bancorp for its failed 2008 debut. Read More