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Old 07-11-2008, 11:32 PM   #1
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Locked in gas prices.

Check it out all. http://www.mygallons.com/ i saw a report on this on the news a few days ago. It seems like a good deal but is also a huge risk from what the news was saying. Basically you get some kind of debit card from them and you only pay one price for gas no matter what the price is. It locks in on the average price around you at the time of purchase. I thought it was interesting and wanted to share it with you all. I will not be doing this just cause it seems like to huge of a risk since major credit card companies arent backing them.


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Old 07-12-2008, 12:17 AM   #2
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I saw it on the news...the concept doesnt look that bad.
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Old 07-12-2008, 10:23 AM   #3
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Average price of gas when you buy the debit card, or average price of the gas whenever you go buy some?---nvm.
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Old 07-12-2008, 07:16 PM   #4
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Also they will probably lock you in so that they can tell you which stations to use it from instead of letting them use your regular place to get gas.
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Old 07-12-2008, 08:17 PM   #5
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Why would someone offer something like this if gas prices were going up? How exactly could they make money- on interest? Are they taking the chance that the majority of people who get this will not pay their bill on time? That's a heck of a chance. Even regular credit card companies don't rely on consumer negligence entirely.
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Old 07-12-2008, 08:33 PM   #6
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average price difference, and a corprate gamble type insurance generally backed by llyods of London. A guy in Dundalk maryland made a similar type document that communism would fall in the USSR in 1985 and ended up paying out millions to him
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Old 07-12-2008, 08:35 PM   #7
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also they use fleet serivce bulk purchasing in which it is based of off the commodities and futures markets, kind of how my company vehicle costs only $3/gallon for gas and locomotives where I work cost $2.60 / gallon for diesel
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Old 07-12-2008, 09:36 PM   #8
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Eh, doesn't seem like a good idea. Wait until it proves its reliability
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Old 07-13-2008, 01:04 AM   #9
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Its not hard to get around this if you get locked in. If the price of gas goes down below your locked in price, just use your normal debit card.
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Old 07-13-2008, 01:30 AM   #10
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intresting idea,

i was watching the news one night, this guy had a gas card, and he used his gas card to buy gift cards, because every time he did so he go a free $5 in gas, of course this only works at certain stations, and you gotta get your gas there often, if not all the time
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