Fighting Pain at the Pump
Tired of high gas prices? Are you sick of the pain at the pump? Well there may be some relief on the way, thanks to the MyGallons program, which is a new fixed price program that allows consumers to pre-purchase gas in advance at current prices, so they can save later.
According to the press release I received, this is an example of how it works:
Let’s say you sign up to pre-purchase gas and on the day you sign up, gas is $4.00 per gallon in your local area. A month later you decide to use your MyGallons Card for the first time and gas has risen to $5.00 per gallon in your area, you’ll save $1.00 per gallon at the pump.
If this sounds good to you, you can register on the website at MyGallons.com and receive a MyGallons Card, which takes approximately 2-6 weeks to receive. Once you receive your card, as a member you will be able to pay the current price for gas in your zip code, which will be stored in your account as a credit balance in gallons. You can then use your secure MyGallons Card to fill your tank at over 95% of the nation’s gas stations it’s exactly like using your debit card when you pay at the pump but instead, you swipe your MyGallons Card, enter a PIN and your ready to save.
MyGallons, which is headquartered in Miami, is the brainchild of Steven Verona, who says:
“While everyone seems to want to point fingers and place blame for the staggering rise in gas prices, I am proud to say MyGallons is actually doing something to help the consumer save money.”
There are two annual membership options available. The auto-refill plan is $29.95, while the self-replenishment plan is $39.95. Once you become a member, you’ll be able to access your account via the website to check your savings, balance in gallons, transaction history and pay for additional gas to add to your account. You can also sign up for alerts when your balance gets close to the zero mark so you can add more gallons to your account. The price you pay per gallon at the time you make your purchase is based on the average gas price in the zip code of the billing address used at signup.
While the MyGallons Card program might not be for everyone, it’s a program that caught my attention and may be a great option to help curb today’s high fuel prices. If you’re a member of the MyGallons program, please let me know how it’s working for you.
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Where did you get your blog layout from? I’d like to get one like it for my blog.
Hey Aaron,
We actually had this layout designed in house by our designer. Its very hard to find good designers these days though.
This is a scam. Not the Nigerian-Type scam because the business is legit. But there’s little to no chance of you saving any money on this. I did a little reading into this to see what their terms and conditions where. Here’s what I found:
From the Service Agreement:
—2.5.3 MYGALLONS maintains the right to make and will make price adjustments to your Personal Account any time you redeem the MYGALLONS Services for a price at the pump that is at least 10 cents per gallon higher or lower than your MYGALLONS Price at the time of the redemption (not at the time you pre-purchased the fuel). For example if your available MYGALLONS Price at the time you make a redemption is $3.50 per gallon you will receive an adjustment credit to your Personal Account if the price you redeem for at the pump is $3.40 per gallon (or less) or an adjustment debit against your Personal Account if the price you redeem for at the pump is $3.60 per gallon (or more) at the time of redemption.
This means that the most they will allow you to save is 10 cents per gallon. Anything over that and they “adjust” your account. So add that to the $40 annual fee for manual renewal (it’s only $30 for auto-renewal)and that means that you would have to go through 400 gallons in a year just to break even in the best possible scenario.
Now when I factor in my Geo Tracker, I get 27 MPG. That means that I’d have to save the max allowed and drive 10,800 miles just to break even!
Working with that number, if I drive 12,000 miles in a year then that means I’d start saving money on my last 44 gallons for the year. Factor in the 10 cents and that means I’d save $4.40 a year using this service. Thanks but no thanks. Especially if you factor in overdraft fees, etc. And what are the chances of getting the full 10 cent savings every time?
Samseed: Great analysis! I was hoping to get some comments on this – both pro and con – from readers who have used the service and/or who have opinons about these types of programs.
Thanks for your feedback – it’s much appreciated.
I thought it sounded good until I came to comment and read Samseed’s comment.
Too good to be true. Who well.