The Credit Wagering of gas purchasing has arrive=My gallons.com.is it legit?Fishy?

[BrentCrude]

Anyone here of this place or concept called www.mygallons.com where you can pay up front the going rate of the price of gas,let's say $4 and if it goes to $6,you keep paying $4.It can work the other way too where you pay $4 up front and if it goes back to $2 a gallon,you lose $2 a gallon.

They are interviewing the head hancho of this company as I type on the Doug Stephan nationwide radio show.The guy sounds about as smart as the average SBR poster on the subject of finance and economics so it worries me a little.I know a little about hedging but I think this outfit is underfunded and if a ton of people pay for gas up front and the price per gallon goes up,these guys in the company bail with the money leaving you and your gas tank high and dry.

Anyone else here know about this company or the legitimacy of this concept where it can be benneficial or a bust for people investing?

[SBR_John]

Anyone here of this place or concept called www.mygallons.com where you can pay up front the going rate of the price of gas,let's say $4 and if it goes to $6,you keep paying $4.It can work the other way too where you pay $4 up front and if it goes back to $2 a gallon,you lose $2 a gallon.

Sounds legit. They are just hedging with futures. Would of been a good idea 6 months ago. But I think we are at the top now. But still, good thinking, seems like a great business idea.

[daggerkobe]

You know, Priceline used to have something like this. You would bid on gasoline and prepay for it. Used to save me around 20 cents a gallon.

[RageWizard]

Like I was telling my kid last night, If it smells like fish its a tasty dish, if it smells like cologne leave it alone. This deal is probably legit but it still smells like cologne to me. They are trying to capitalize on the fear of the price of gas rising uncontrollably like it has done the last few months. The only problem is that the oil bubble is just about done running in my opinion unless the jews attack Iran. In which case all bets are off and I bet these guys disappear into the weeds with everyones money.

[flyingillini]

They are legit.

[JoshW]

Looks interesting. But you can't find out what price you will pay until you signup.

I don't think gas will go up too much, but if you could lock in the lower price as it swings around, it could be worth it.

Annual fee is likely were they make there money.

[FreeFall]

I can think of a lot better ways to invest my money because that is what your doing. Your giving it to them for them to hold it for you.