Cool Websites - Lock in Tomorrow’s Gas Prices Today
Jul 02, 2008
Author: SCP Editor
July 2, 2008 – Worried that gas prices are going to continue to rise? Well, now you can speculate right alongside the hedge funds and institutional types buying and selling West Texas Intermediate futures on a daily basis at http://www.mygallons.com. At the website, you can actually sign up for a MyGallons credit card (for an annual fee of about $29.00), and lock in today’s prices.
The card comes with a nifty marketing pitch, that
If you do not save money on at least one redemption throughout the subscription year, we will refund 100% of your first year's membership fee. Upon signing up, your MyGallons Card will be sent to you. You will also receive additional cards that you can give to family members or friends to activate.
When you purchase fuel on your card, you lock in the current price for usage at your local participating gas station at any point in the future. MyGallons claims that 95% of all gas stations in the U.S. participate in its program. The website has a cool little calculator that enables you to determine your projected savings by plugging in the number of miles you drive per year and the average mpg your car gets. We tried it and plugged in 40,000 miles in estimated driving at an estimated 20mpg, and came away with 1,413.40 in savings per year.
