Gas-Saving Moment of the Day: MyGallons.com

Mygallons

The slogan of MyGallons.com is "Tomorrow's gas. Today's prices." The idea is that you purchase gas at today's "reasonable" price of $4.09 (the national average, as of Wednesday) and hold onto it as prices continue to rise.

Essentially, you are pre-purchasing gas, betting that prices will continue to increase. This seems like a pretty good bet for the time being, but be careful: Once we get past the summer months, fuel prices tend to dip. The long-term trend for gas and diesel will continue to point skyward, but if you're buying gas at $4 a gallon into September or October, you may find yourself overpaying. However, if you lock in $4 now and hang on to it until a year from now, you stand to save a decent chunk of change.

Look for more clever entrepreneurs to tap into gas-price paranoia with gambits like this. The trick will be figuring out how to separate the ploys and take advantage of the ones that can actually save you gas and money.

Since the site launched in January, nearly 2,000 people have made purchases from MyGallons.com.

Web Service Lets You Lock in Gas Prices (Reuters via TechnoRide)

Related:
More Gas-Saving Moments of the Day (KickingTires)

By Stephen Markley | July 3, 2008 | Comments (11)

Comments 

J

WOW, I can save a whopping total of under $200 a year! Why do I even bother?
It is only good to those who drives HUMMER, Lamboghini, Viper with lead-foots over 20000 miles a year.

LM

At least you can plan a budget. It's called hedging and it's what Southwest Airlines has done, remaining profitable. I think Delta did this as well, but in the opposite direction and ended up losing millions of $$$s. Haha. Sucks for them.

If you can't stomach market fluctuations, don't try this.

segfault

And when the company goes bust, they take all of the gallons you've pre-purchased with them!

Phil

Read the comments on the LA Times Blog. Looks like all of the details and an in depth investigation took place and details are posted in link below. The outlook for mygallons isn't looking to good. Looks like a scam.

http://travel.latimes.com/daily-deal-blog/index.php/mygallonscom-july-1--2146/

Don't you love it when a company's terms and conditions require that you waive your 6th amendment rights.

Dave & co. should probably put a similar disclaimer in this post.

Does anyone do homework anymore before writing or publishing a story? Looks like the answer is NO.

Here are the problems I see with mygallons.com site.

They state:
2000 members
Soft Launch in January

Problems:
Registered Domain in March
Registered company in April
Got SSL Certificate 2 weeks ago (Not possible to run credit cards without it)
Have testimonials on their site (Not possible since no site, no members and it takes 1-6 weeks to get card)
Site went live last week

Now Voyager, the supposed back end that runs the mygallons site says they have no business relationship with the company and the Voyager locater has been removed from the mygallons.com website, plus they have changed their details and have removed the Voyager details from there site, although for some reason, there are still some Voyager logo's still on the site but my guess is that they will be removed sometime today.

Conclusion:
Not too good. Can you say "SCAM"? They are not being honest and truthful. Make your own conclusion. Do I feel safe sending them my hard earned dollars, absolutely NOT

Frank

MyGallons is obviously a complete scam. "F" rating by the Better Business Bureau. Why doesn't the media do their due diligence before reporting and costing Americans alot of $$$?

http://www.latimes.com/business/la-fi-mygallons4-2008jul04,0,5410778.story

Roger Egle

Cars.com, AP, etc. it's all the same quality of journalism. Read and take with a huge grain of salt.

Nandakumar

Does anyone know what happens if the company mygallons.com go bankrupt.I dont really like the concept of prepaying after i got my fingers burned with sunrocket. does anyone know what will happen if they close their business. are we suppose to lose all the money

Robert Lewis

The bankruptcy and previous corporations of the owner who wants you to buy
prepaid gas cards at mygallons.com. Escrow accounts are not protected from
bankruptcy proceedings as mentioned in article.


www.webofdeception.com

Robert

Here's a company that is doing it for real and investing in gas with the money. They hold it for you until you want to sell and voila you lock in today's price and redeem whenever you need your gas. tomorrowsgas.com

Tomorrow's Gas is the name

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