pre-paid gas for when prices rise?

[OLDNEWBIE]

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.

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[Classic]

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!!!!

 

[44mag2ndamend]

Ah yeas the Petrol Dollar.

 

[OLDNEWBIE]

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.

 

[Just Jim]

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

 

[CoastRange57]

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.

 

[Stomper]

American business rarely looks past the business quarter they're currently in, when it comes to spending money.

 

[PDXSparky]

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!!!!

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

 

[OLDNEWBIE]

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?

 

[CoastRange57]

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?

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.

 

[OLDNEWBIE]

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.