Gasoline Savings Too Good to Be True?

A Www.Mygallons.Com Review

With gasoline prices continuing to rise and no relief in sight, entrepreneurs are flocking to open up gas saving web sites. The most recent addition to the web is the site www.mygallons.com. This website promises to save you a substantial amount of money by allowing you to pre purchase gasoline at today's prices and redeem them when gasoline prices soar again. Sound good, right? While it may be a great idea, only time will tell if it really is too good to be true.

The gasoline website promises:

The appeal to a website like www.mygallons.com is that you are locking in the gas prices of today, similar to a house loan. You purchase a yearly membership which ranges from $30-$40 a year and load a card with gasoline credits purchased at today's prices. Then you wait. When gasoline prices rise again, which we all believe they will, you use your prepaid card to get gasoline at the rate you bought it. Any unused pre paid gallons can be cashed in, so there is no reason to worry about loosing money. You can also use gasoline purchased for cars, motorcycles and even boats. If you do not save money on gasoline that year, you will be refunded 100% of the membership fee (great insurance in case gas prices drop suddenly).

The gasoline website realities:

So what's the catch? The main catch only happens if you go over your balance on your prepaid card. Unlike other prepaid cards, it still allows you to charge on it even when it is empty. The problem is that you are charged the current gasoline rate and a $15 overdraft fee. When you add a couple of overdrafts to your account and the $30 membership fee, your savings dwindle in a hurry. There is also a $1.95 reloading fee when using your credit card to purchase fuel. All of these "hidden costs" make saving substantial money on gasoline a lot more difficult to achieve.

Alternative gasoline savings: