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Pastimes : Discussion Thread
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To: Rambi who wrote (994)7/3/2008 2:54:48 PM
From: TimF  Read Replies (1) of 3816
 
Pre-Paid Gas for Everyday Drivers

Gas prices seem destined to keep rising, and many consumers feel powerless to do anything to protect themselves from what they perceive as the inevitable.

Now a new Miami-based company, MyGallons, is offering what it hopes will be a solution: the chance to pre-buy gasoline at the current price and fill up later when prices -- presumably -- are higher.

"Save money by pre-purchasing gas at today’s prices, then fill up with your MyGallons Card when prices rise. No matter how high prices at the pump will go, the price of the gallons you’ve purchased will be locked-in."

MP: Hey, we can all be speculators/hedgers now!
mjperry.blogspot.com

I guess "My Gallons" hedges on the gas prices, and hopes to profit with the annual membership fee ($29.95), its "reloading fee" ("$1.95 fee for processing the reload of your MyGallons Card when using a credit card to pre-purchase the fuel"), and its $15 "overdraft fee" (you get charged $15 + the full price for the additional gallons, if you use the card to get more gasoline than the amount you have prepaid for).

Well those fees and also the fact that they can earn interest on your pre-paid balances until you use them.

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But can you feed your "shadylady" credit in to this program? <g>
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