Buy Gas Now and Pay Less Later

Everyone has been feeling the crunch when buying gas. As the price creeps closer and closer to $5.00 per gallon, more and more people are wondering what they are going to do. A new program called MyGallons may be the answer.

The system is basically the same as a guaranteed gas price for life system. Once you purchase the MyGallons Card, you receive a Personal Identification Number (PIN) and all the information. You pay for gas at whatever the price you area has been designated at, then no matter what the price is, you will have a pre-paid card to cover it.

For example, let's say you have been quoted a price of $3.80 pr gallon. 100 gallons would cost you $380 at that time. 2 months down the road, gas now costs $4.10 per gallon. 100 gallons would cost you $410. Overall you will have saved $30. Even though this may not seem like much, you have to remember that gallons never expire. If 100 gallons will last you 12 months, and the price goes up by $1.00, you will have saved $100 in the long run.

For more information and pricing and availability, please visit MyGallons

Jul 3, 2008
by Anonymous

Read the fine print:

This is a scam. Not the Nigerian-Type scam because the business is legit. But there's little to no chance of you saving any money on this. I did a little reading into this to see what their terms and conditions where. Here's what I found:

From the Service Agreement:

--2.5.3 MYGALLONS maintains the right to make and will make price adjustments to your Personal Account any time you redeem the MYGALLONS Services for a price at the pump that is at least 10 cents per gallon higher or lower than your MYGALLONS Price at the time of the redemption (not at the time you pre-purchased the fuel). For example if your available MYGALLONS Price at the time you make a redemption is $3.50 per gallon you will receive an adjustment credit to your Personal Account if the price you redeem for at the pump is $3.40 per gallon (or less) or an adjustment debit against your Personal Account if the price you redeem for at the pump is $3.60 per gallon (or more) at the time of redemption.

This means that the most they will allow you to save is 9 cents per gallon. Anything over that and they "adjust" your account. So add that to the $40 annual fee for manual renewal (it's only $30 for auto-renewal)and that means that you would have to go through 444 gallons in a year just to break even in the best possible scenario.

Now when I factor in my Geo Tracker, I get 27 MPG. That means that I'd have to save the max allowed and drive 11,988 miles just to break even!

Working with that number, if I drive 12,000 miles in a year then that means I'd start saving money on my last 1/2 gallon for the year. Factor in the 9 cents and that means that in the best case scenario I'd save $0.05 a year using this service. That's it. I'd save a nickle driving 12,000 miles in a year if i get the maximum allowable savings at each and every fill-up for 12 months. Thanks but no thanks. Especially if you factor in overdraft fees, etc. And what are the chances of getting the full 9 cent savings every time?