While airlines, commercial vehicle fleets, and other large-scale users of fuel have been purchasing in bulk to lock in savings for years, the average American driver hasn’t ever really had that option. A new company called MyGallons is looking to change all that, giving spendthrift motorists a hedge against quickly escalating gas prices.

The MyGallons concept is quite simple. Users are able to buy fuel in whatever quantity they wish at a rate that gets locked in at a typical market rate (plus a yearly subscription fee of $29.95-$39.95) at the time of purchase, and at over 200,000 locations. When the price at the pump rises, users can then use their MyGallons card to fill-up using the cheaper gas that they’ve already banked. Prices for fuel are based on regular unleaded, but users can choose any grade or type of fuel (diesel, marine) and expect to pay an adjusted premium in the gallons available to their account.

MyGallons seems to be a pretty straight deal, promising to let users redeem fuel at the purchase price no matter how high prices go (though there is a “home market” clause), and offering a money back guarantee should one change their mind about the offer. Of course, the system only works if gas prices continue to rise; a condition we doubt many readers would be surprised to encounter.

+ MyGallons