With gas averaging $4.10 nationwide in the USA and oil prices reaching $136 a barrel, consumers are finding it hard to save.  But there may be hope in locking in low gas prices in your local city.

www.Mygallons.com is a florida-based company that promises to consumers that they can lock in a low price for regular unleaded gas at the pump and redeem that price when gas goes up.  Sounds like a good bargain?  Pumpngo thinks so…for now.

Mygallons charges an annual fee to join their program and you have to obtain a debit-based card that you use to prepay for the gas to redeem at a low price.  From there, it’s just a matter of adding more money to the account when need be.  As an example, you buy $100 gallons of fuel at a lock in price of $3.50 a gallon, and when the gas price goes up to $4.00, you pay the lock in rate and nothing higher.  That’s a savings of $0.50 a gallon.

The site is under negotiations with a new payment service provider, and certain features of the site are not available such as a location finder to lock in your price.  It’s good that some businesses unlike the oil companies are providing the consumers with an incentive to save on gas.  It’s a start and PUMP ‘N GO locks in the deal.

http://mygallons.com/

http://biz.yahoo.com/ap/080710/oil_prices.html

http://www.fuelgaugereport.com/