Who needs Chrysler? Lock in your own fuel prices with MyGallons
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]
Reader Comments (Page 1 of 1)
Michael 5:09PM (7/04/2008)
Yeah, go check the comments on this on Autoblog. It's a huge scam and the owner filed for bankruptcy not too long ago.
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Dick 8:02PM (7/04/2008)
Dude? What the hell is wrong with you? This is pure scam and idiots like you and the autoblog twerps have played right into their hands. Nice work...
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Joel Israel 8:24PM (7/05/2008)
We can do something - and we should. It would be near impossible for all of us to completly boycott the oil companies, but we can do this. Start a movement against them by boycotting the big guys - Exxon/Mobile, Cheveron,Texaco and for sure Citgo. By only from one or two of the other guys like B.P. and Ammaco and see how long it takes the other guys to start dropping their prices. It would start a price war among themselfs that could possiblly bring the prices down some. We can do something! SPREAD THE WORD!!!
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tankd0g 10:04AM (7/05/2008)
Here's what you do. Whatever you are driving now, fiddle with your throttle cable until you can't get to 60 in less than 14 seconds. If it's a manual, always short shift and coast in neutral whenever possible. It will soon become evident that dumping your car for a new one with a smaller engine makes no economic sense.
wave54 11:32AM (7/05/2008)
Spread the word-- not! You seriously need an education in the oil business. Where you buy gas from has little to do with its origins or who makes the largest profits.
The big profits comes from crude oil production, not retailing, where many gas stations are franchised and the owners make more money on coffee sales than they do on fuel.
By the way, BP bought Amoco and is the 3rd largest oil company in the world. So much for buying from the "small guy" ($22 billion in profit).
Chevron and Texaco have merged also, so they're the same company now.
In a global business like petroleum, it makes little difference which brand you purchase. The smaller, independent oil companies and store brands like Costco have to buy crude or refined products from someone -- the oil producers -- Exxon/Mobil, Shell, BP, ConocoPhilips, etc.
The retailers make pennies a gallon while the big guns makes billions of dollars providing the flow.
T2 7:49AM (7/05/2008)
We could demand the smaller engines that the automakers supply to the rest of the world. I don't want to swap my car in the driveway for a two hour commute by public transport because of running costs.Here's what I did recently : -
"I thought I would try Toyota first to see what they are doing. I had come to learn that Toyota had this particular 68Hp 3-cylinder available which had been a joint effort with Daihatsu and which had received engine of the year awards for 2007 & 2008 in the sub 1.0L class. This engine should be an option for the Yaris.The current 1NZ-FE 1.5L will easily chirp the tires and do 0 to 60 in 8.5secs. If the Yaris is supposedly an entry level sedan, that level of performance is somewhat out of line, no ? What can consumers do to get more economical versions ?
Accordingly I decided to submit a request for information over at the Toyota contact-us website in regards to whether Toyota might bring over the Yaris with the 1KR-FE 1.0L engine, in the light of increasing oil prices. Toyota referred me to their brochure when it becomes available for the 2009 's. Well is that a yes or a no ? The next thing you know they triggered an independent polling company to see how satisfied I was with their reply !!
Toyota it appears want to go with their new for 2007 "R" engines across the range 1ZR-FE, 2ZR-FE etc and the smallest of these is 1.6L which will probably go to the Prius and Yaris. Yeah, just what we need - 124Hp in a Yaris with a 7sec to 60mph !
Since those decisions were made gas has more than doubled in the USA, and in Canada by 50% which at $1.40 liter comes to $6.35/gal. Maybe Toyota should be revisiting that decision."
T2
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why not the LS2LS7? 12:11PM (7/05/2008)
Sister site autoblog is pretty convinced this is a scam, in part due to (non-sister site) consumerist.com.
See comments on here.
http://www.autoblog.com/2008/07/04/mygallons-lets-you-lock-in-fuel-prices/
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joel israel 8:33PM (7/05/2008)
Wave - Itsguys like you that TRIED to shut down the revolution in 1776. We gotta start some where. Remember the Boston Tea Party ???
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