Master of Financial Engineering Program
MFE Announcements
Monday, June 1, 2009
MFE Alumni Introduce Gas Price Caps for Consumers
Everyone agrees fluctuating gas prices adversely impact one's pocketbook and
carefully planned budget. Now, two Master of Financial Engineering alumni from
the Haas School of Business at the University of California, Berkeley, have come
up with a solution to this dilemma.
Edward Lee and Alex Pabon, both MFE 02, are the founders of Petrofix.com, an
online service that protects people from higher gas prices and brings certainty to
their budgets. For an upfront, fixed fee, customers receive compensation if gas
prices rise but aren't locked in if prices fall. Customers continue to get gas as
usual, at any gas station anywhere in the country, with any grade of gasoline.
The gas price cap assures they recoup their cash as gas prices skyrocket.
Lee and Pabon's vision is to introduce finance that will enable individuals and
small businesses to address economic risks to which they are unexpectedly
exposed and thereby promote a more fiscally and socially responsible society.
Prior to launching Petrofix, Lee was a quantitative analyst and risk consultant to
investment management companies, where he created systems to value financial
instruments and measure risk; Pabon was a USD Short Term Swaps trader at
Barclays Capital in New York, where he managed a team of traders in New York
and London and helped develop the first fully electronic swaps offerings.
Learn more at www.petrofix.com.
