Did you know you can lock in your gas price and not pay for higher prices?  There is a new program, called MyGallons.com that allows you to prepay for gas at a locked in rate. 

Can this be true?  On the service, it sure sounds like it.  I started reading all the Frequently Asked Questions, and it seems there is some tip toeing around some of the fees charged, and it seemed like, in my opinion, that if it's too good to be true...

They even say that if you buy gas at a certain price and then prices drop, that you can have a refund of what you pre-purchased.  Interesting.  Why would they do that?  How are they making money? 

They even suggest not to buy too much pre-purchased gas so in case gas prices drop, you can lock in at the new, lower rate... but wait, they said you could have a refund, so why would they suggest this? It's $1.95 each time to reload more gallons onto your card.

If you've heard of this and thought you should jump on it, I suggest reading every word of the disclosures, and then even make contact with someone at the company to answer any questions before you proceed.  For such a great program, why are they taking up to 6 weeks to send out cards?  It's like they want people to make the pre-purchase, but then not be able to use it for weeks, then they forget about the card when it does finally arrive, and more money in their pocket if the cards aren't used.  Did I mention the $15 overdraft fee if you get too low in your account?

Check it out and ask questions!!

 
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10 Comments on MyGallons.com can Lock in Today's Gas Prices

JUL
01
2008
803,539 Points 20 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I just heard this on the news. There has to be a catch. Where were they a years ago?
12:13pm • #1
306,489 Points 23 Featured Posts Localism Sponsor

Be careful, to good to be true usually is! :)
12:28pm • #2

Donna,  Great all we need is to get into speculating on gas ourselves.  All Mygallons.com will do is ensure we are paying higher gas prices.  We have got to get the speculators out of the oil market and we need alternative fuel sources for our transportation.  Everybody is looking for the quick fix and speculating on gas prices is no fix.  It is a way for Mygallon.com to make some money.  What happens when you lock in gas at $4.00 and it goes down to $3.50 before you get your card?  I am sorry to disagree with you but this is not a great program.
12:28pm • #3
725,710 Points 63 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Donna...  OMG!!!  I can see it now... a new basis for a hardship letter used in a Short Sale... "lack of funds due to a DROP in gasoline prices and the homeowner speculated and bought a ton of gas at higher prices!"  No thanks.  Like my dad taught me, if it sounds too good to be true it likely is!
12:53pm • #4
200,847 Points 11 Featured Posts

It does sound too good to be true!!! Thanks for the info.
1:10pm • #5
1,308,845 Points 96 Featured Posts Outside Blog Hit Router Attended Rain Camp Called Shot Master

Gary, I think the catch is in all the additional fees...

Ricki, I agree.

Jimmy, I didn't say it was a great program. I think it's ridiculous...

Steve, Funny.  However, they are allowing refunds if you want your money back... I just can't see how much they charge for that.  Must be smaller print somewhere.

Mana, Thanks for stopping by!
1:33pm • #6

I will wait to hear more feedback before I buy into it.
4:55pm • #7
469,049 Points 18 Featured Posts Localism Sponsor Hit Router Attended Rain Camp Called Shot Master

Reminds me of waiting to lock a loan.  Lock at today's prices or wait to see if they drop into the $3 rang again?  It definitely sounds too good to be true!  Hopefully someone comes up with a real solution sooner rather than later.  There was another post today on how gas prices are affecting real estate----and they are!
6:20pm • #8
1,308,845 Points 96 Featured Posts Outside Blog Hit Router Attended Rain Camp Called Shot Master

Shaun, I don't think it's worth buying into even with more information, but you're smart.

Pat, Good analogy... you just never know what's going to happen.
7:38pm • #9
JUL
02
2008
105,417 Points 1 Featured Post Localism Sponsor

This is the first that I have heard of this. It does seem too good to be true. Gas here just went to $4.09 per gallon and I understand it is higher most places. Please keep us informed if you hear anything more about this. I am going to bookmark this post. THANK YOU!
7:44pm • #10


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Donna Harris, REALTOR®, CDPE & ASP - Hill Country Austin Lakeway Homes

Donna Harris, REALTOR®, CDPE & ASP - Hill Country

Austin, TX

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Regent Property Group

Address: 7035 Bee Caves Rd #204, Austin, TX, 78746

Office Phone: (512) 592-7127

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This blog is to help educate Buyers, Sellers and even other Realtors across the country.  Each market is different and the way Real Estate is done is different.  Austin Real Estate is completely different than Dallas, California and Florida and everywhere else in between.  Some times there will be other things besides real estate as I like to rant and rave as much as the next!!  Come back often!

Donna Harris, REALTOR® with RE/MAX
Donna Harris, REALTOR® with RE/MAX
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