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pre-paid gas for when prices rise?

Discussion in 'Off Topic' started by OLDNEWBIE, Jan 22, 2015.

  1. OLDNEWBIE

    OLDNEWBIE State of Flux Well-Known Member

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    When gas was $4.00 I remember a news story about a guy who had pre-paid hundreds of gallons at less than half that. Did a quick google search and came up with mygallons.com


    Anybody doing/done this? I'd be concerned after buying 500 or 1000 dollars worth they might go bankrupt or something. Other than that I'd go for it!

    BTW why in the heck are we still forced to use poor MPG Ethanol blends when crude is at $45 a barrel?
    Govt. knows what's good for us I guess.
     
    Caveman Jim and U201491 like this.
  2. Classic

    Classic Federal Way WA Well-Known Member

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    I'm also interested!!!! Airlines can buy future so why cant we??? Those Aholes are charging $25 per bag when SW doesn't... If you fly 1st class bags are free too....
    I wanna buy fuel futures like the airlines do!!!!
     
  3. 44mag2ndamend

    44mag2ndamend Round the ole tree stump, Down by the crick Well-Known Member

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    Ah yeas the Petrol Dollar.
     
  4. OLDNEWBIE

    OLDNEWBIE State of Flux Well-Known Member

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    http://www.mygallons.com/how_it_works/
    Saving money with MyGallons is as easy as 1, 2, 3
    Once you join MyGallons you may pre-purchase your gas online at our website and lock in the current price. When the price of gas goes up, you can use gallons from your fuel reserve to offset the cost of what you pay at the pump!

    Dug into it a little bit, $2.09 is today's lock in price for Oregon.
    Seems like a fee for the card too.
    If (when) gas goes up to $3.70+ and you own $1000 at $2.09 you'd sure feel pretty smart.
     
  5. Just Jim

    Just Jim Well-Known Member

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    Guess Saudi king Abdula has died so who knows what the price of oil will do. Might be a good hedge buying ahead.
     
  6. CoastRange57

    CoastRange57 Western Oregon Bronze Supporter Bronze Supporter

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    The King Goat Humper dying will have nothing to do with the price of fuel. The Saudis and UPEC have dropped the price of oil to get the US to stop fracking the oil sands and go back to buying Saudi light sweet crude.

    They will keep the price of oil down and keep it that way, manipulating it for profit, and making sure the US oil companies can buy their product cheaper that extracting it from domestic sources. They will slowly work it back up to where it is just under practical to work the oil sands.

    The oil sands are shutting down now. I do know a few guys who are going up there and buying leases dirt cheap for cash, doing a little speculation on what is going to happen.

    Americas energy policy is complete horsesh*t. It is only concerned with the profit dollar to the big oil companies. Obongo will not let them build a pipeline, and that plays right into the goat humpers hand.

    We have once again been worked by those camel banging morons, but everybody loves it because gas is so cheap now. Typical American reasoning.
     
    BBQ Guy, BrentN and Caveman Jim like this.
  7. Stomper

    Stomper Oceania Rising White Is The New Brown Silver Supporter

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    American business rarely looks past the business quarter they're currently in, when it comes to spending money.
     
    Last edited: Jan 23, 2015
    CoastRange57 likes this.
  8. PDXSparky

    PDXSparky Keizer / Hillsboro Well-Known Member

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    Checked bags aren't "free" when you fly 1st class. The cost is included in the fare.

    Prices would have to fluctuate quite a bit to make up for the fees

    Fee Info Cost
    Annual membership fee
    $30.00
    Pre-purchase processing fee 6%
    Cash-in processing fee per gallon $0.06
    Optional MyGallons Fuel Savings Card issuance fee $10.00
     
  9. OLDNEWBIE

    OLDNEWBIE State of Flux Well-Known Member

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    Maybe if it drops to $1.75 I'll gamble some on it.
    I wonder if let's say crude stays low and the gullible voters allow an increase in gas taxes bringing the price at the pump near $4.oo again,
    would that effect your locked in price?
     
  10. CoastRange57

    CoastRange57 Western Oregon Bronze Supporter Bronze Supporter

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    They have to have a bail out spot in there somewhere. Even with the fees and the money they make, no way in hell do they hang in there and let you buy $ 4.00 gas on prepaid $ 1.75.

    They either pull the plug and refund it, or more likely they just bankrupt the LLC and screw everybody out of the money.
     
  11. OLDNEWBIE

    OLDNEWBIE State of Flux Well-Known Member

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    Kind of like when interest rates tanked and I had a bit of money in some high rate C.D.s.
    One day the Bank just ended our "DEAL" and sent us a check with our money back.
    If gas keeps dropping I'm gonna dig deeper and see what the ins and outs are. Right now I have a lot going on.