Everything old is new again.
A few years ago (can't find the link, sorry), we had a story about a service where people could pay now for way more gasoline than they needed (say, 100 gallons or more) and then this fuel would be stored for them somehow and would be available to them at a later date - most likely when the fuel price was higher. A new company, MyGallons, is now offering the same sort of deal. The US News & World Report is all over it.
One difference between MyGallons and previous fuel price lock deals is the wide availability of participating gas stations, over 200,000, according to the MyGallons site. On top of pre-paying for your fuel, you also need to pay $30 or $40 for the annual membership fee and the price you pay for fuel is "based on the current average price of self-serve regular unleaded gas in your home area," MyGallons says.
How does MyGallons make money? By taking members' money and investing it in oil and other energy companies, through those annual fees and through website advertising. Investing money back into the companies that make such big bucks off of high gas prices sure does seem like a vicious circle, doesn't it?
[Source: US News & World Report, MyGallons]
A few years ago (can't find the link, sorry), we had a story about a service where people could pay now for way more gasoline than they needed (say, 100 gallons or more) and then this fuel would be stored for them somehow and would be available to them at a later date - most likely when the fuel price was higher. A new company, MyGallons, is now offering the same sort of deal. The US News & World Report is all over it.
One difference between MyGallons and previous fuel price lock deals is the wide availability of participating gas stations, over 200,000, according to the MyGallons site. On top of pre-paying for your fuel, you also need to pay $30 or $40 for the annual membership fee and the price you pay for fuel is "based on the current average price of self-serve regular unleaded gas in your home area," MyGallons says.
How does MyGallons make money? By taking members' money and investing it in oil and other energy companies, through those annual fees and through website advertising. Investing money back into the companies that make such big bucks off of high gas prices sure does seem like a vicious circle, doesn't it?
[Source: US News & World Report, MyGallons]
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