Meter Reading: Dollar-a-Gallon Gas in Houston, Fracking Giant’s Risky Bets, and More

‘Glitch’ at Station Results in $1 Gas, at Least Temporarily According to a report in FuelFix, “some Pasadena drivers saw it for several hours overnight after a computer glitch caused gasoline to be sold for $1.01 per gallon, or roughly $1.70 less than the average Houston gas station. The news of the glitch spread over Facebook and Twitter, causing dozens of people to line up at the station to get the cheap gasoline. The Conoco gas station eventually switched off the pumps at 1:30 a.m.”

Chesapeake Energy’s Risky Bets Fracking giant “Chesapeake Energy is one natural gas producer taken the road less traveled by entering 2012 with none of its gas volumes hedged, betting that gas prices would rise,” Business Insider reports. “Exiting the positions was profitable, but could prove to be short-sighted and misguided by over-confidence as it essentially left the company fully exposed to the languishing commodity price. In contrast, other natural gas companies, like Encana, Linn Energy, Venoco and Range Resources have hedged at least 75% of their 2012 production.”

US News and World Report: 9 Ways to Cut Summer Energy Costs The personal finance columnist of US News comes up with some ways to save this summer without suffering.

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