LoveMyGasPrice fuel protection plans are a great way to protect consumers against gas tax increases since it caps the price consumers pay for gas including any tax increases.
Los Angeles, California (PRWEB) August 06, 2015
Refinery supply issues, alleged gas price manipulation, and volatile gas prices topped with potential gas tax increases are daunting issues for most California drivers but not all. California gas prices have spiked 20 percent/75 cents more a gallon over the just the last two weeks, some California customers are not worried and don't feel the need to search for the cheapest gas prices. They signed up for the LoveMyGasPrice.com's California gas price protection plan (http://www.lovemygasprice.com/ca) in April when prices for regular statewide were capped at $3.50 a gallon for regular.
These LoveMyGasPrice customers are now getting cash back directly to their credit card or bank account for every gallon of regular purchased through one of the company's plans over that amount meaning, at current California prices, those early customers are getting 40 cents per gallon back.
Due to the percent price increase over the last two months, LoveMyGasPrice.com's California plan cap for regular is now $4 and could go higher depending on the state's fuel index. The cap for diesel stands at $3.50. The cap on the company's national site http://www.lovemygasprice.com is $2.75 for regular and $3.10 for diesel based on a national gas and diesel price index.
LoveMyGasPrice.com CEO and Founder GP Manalac said he is a bit surprised gas prices in California have gone up so quickly but said it is certainly not out of the ordinary as seven times in the past 15 years prices have increased between 50 cents and $1.15 per gallon in less than three months.
"With the alleged gas price manipulations, he said, California drivers may now pay more than $1 a gallon more than the national average. The California gasoline supply is controlled by a relatively few large, big oil refiners. Prices in California spiked in 2015 during various periods that appeared to coincide with several key refinery shutdowns in California resulting in prices more than $1 per gallon higher than the national average."
Manalac added that consumer concerns about volatile gas prices are now compounded by the fact at least 14 states including California are considering or have passed gas tax increases but this, too, can be cushioned through his company's protection plans. "Average drivers nationwide are saving $1 per gallon compared to 2014 prices or about $700 a year. With looming budget deficits, lawmakers are hoping this windfall will make raising gas taxes more acceptable to consumers. LoveMyGasPrice fuel protection plans are a great way to protect consumers against gas tax increases since it caps the price consumers pay for gas including any tax increases."
The company operates two sites – one for California customers and one for the rest of the country. Manalac said customers can sign up on either site regardless of their US location as gas price activity AFTER the customer enrolls is what is important. "Since fuel prices are highly correlated, when fuel prices increase nationally, they also rise in California. In either case, if the index price exceeds the respective cap price customers receive cashback to offset higher costs at the pump."
Karin Olsen / karin(at)amazonmarketingpartners(dot)com / 310-497-0052
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