Well this has got me stumped. I can't figure out how they make money, since they're giving the gas stations the full amount, regardless of how much you save.
They say they charge $1.95 to put credit on the card, but that's wouldn't cover the difference.
There's also a yearly fee of 30 dollars or 40 dollars, depending on your plan. And who knows? But if you paid them 4.50 per gallon, and the price goes down to 3.50, I think they laugh and keep the dollar difference. So maybe they anticipate the price of gas to go down substantially sometime? Though I'm a believer in that'll never happen.
I asked someone about this and they said something about investing the money back into the short-term money market ... if that's makes any sense ... also yeah, if the price goes down again you get kinda owned, but still, it sounds like a good idea to me. I'd go for it if I were in the US.
Yeah, once the price goes up, why would it come back down more than a few cents? So I doubt anyone would get owned too hard. Especially once the price hits certain benchmarks, you can almost bet where it's going next. Once gas was 3.50, it was only a matter of time before it was 4.00. Now that it's 4, 5 isn't out of the question by the end of the year, if not sooner.
Comments 6
They say they charge $1.95 to put credit on the card, but that's wouldn't cover the difference.
*scratches head*
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In Australia, the petrol price NEVER goes down.
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