Comments on: MyGallons.com, Gas Prices And North Dakota

By: adam

adam — Fri, 11 Jul 2008 01:57:02 +0000

This is a scam. you are actually buying gallons, not a pre paid dolar amount, Priceline did this about 10 years ago and nearly went out of business for it. the $40 yearly mebership fee is where they make the money and they charge a fee every time you refill. Once 60 days goes by, you can no longer get a refund from your credit card.

By: Marv

Marv — Fri, 04 Jul 2008 00:11:29 +0000

Here’s where I’m confused… The website now says that ANY gas station that takes visa/mc can take their card, so in theory it’s an ATM/Cash card. Here’s my question though. Say you prepay 10 galons @ 4.00/gal so pay $40 for the card (let’s assume the street price is $4.15/gal). OK, so you receive the $40 card a few days later and now the street price is…say…$4.50/gal. If you pump $40 worth of gas (the card’s value) you ARE NOT pumping 10 galons, you would be pumping something like 8 galons… And there is no way to sell “galons” electronically and be deducted later off a card… What am I missing?

By: brian

brian — Thu, 03 Jul 2008 14:50:03 +0000

It’s a SCAM! Think about it. If they only take in income at the lowest $ per gal in your area and you paid them $1000, the purchase spread price goes up to .50 more per gal than you bought it at they are losing money. The money market fund they supposedly invest in will not keep enough returns to offset their losses. If 50% of the people bought in at today’s prices and gas goes up to $7 a gal they will go bankrupt!

By: Jake

Jake — Wed, 02 Jul 2008 18:55:03 +0000

Sounds interesting to me, I think I would buy my entire years worth of gas up front and then lock that price in for the entire year. This is a way to get the same consistent price all year