Frequently Asked Questions
How do I receive my cash back?
When you enroll you will be given a choice of receiving your cashback directly to your bank account or your debit card. You can enter or change this at any time by logging into our website. If you used PayPal, you will receive cashback to your PayPal account. Cashback calculations will be done approximately every 30 days and cash will be sent automatically to your account. You don’t have to do anything. To retrieve your cash, you will need to follow the specific merchant provider’s procedure.
How can I be sure you will pay me when gas prices increase?
When you sign up with us, we aggregate all of our customers together so we can manage and control our costs in the wholesale energy commodities market. For example, it will take about 700-1,000 LoveMyGasPrice customers to equal the smallest amount of a similar product in the wholesale fuel market. We receive money from the wholesale markets when gas prices increase and use those funds to pay you, our customer. Since we “hedge” our exposure we will never be in a position where we can’t pay you.
How often do I get my cash back?
We will perform your cashback calculation every 30-35 days based on the week you enrolled with us. So approximately every 4-5 weeks we will take the average retail gasoline price for your area for the preceding 4 weeks. If it is higher than your cap price, we will send you cash back immediately and automatically.
Can you send me a check or cash directly?
You can receive cash directly into your bank account or debit card. Even if you signed up with PayPal, you can choose to receive cash directly into your bank account or debit card. Simply sign in to your account with the same email address you used on enrollment and enter your account information.
What happens when gas prices go down?
You benefit directly by enjoying lower prices at the pump! LoveMyGasPrice protects you against gas prices increases. It does not penalize you for “prepaying” for gas at higher prices.
I live in a state or area where gas and/or diesel prices are already over your cap price. Will I start getting my cashback immediately?
We cap your gas price based on the US national average not a specific price in your state/area. Regardless of where you live, the only thing that matters is price increase from the time you signed up. For instance let’s say gas in the continental US is $2.50/gallon and gas in your state/area is $3.00 (above our current cap price). If US gas prices increased by $1/gallon chances are prices in Oregon will have also gone up by about $1/gallon (prices for all states tend to move up and down together). You would receive cashback from us since the gas price would be above the cap of $2.75/gallon reducing your fill up costs in the process.
How long does my cap price for gas or diesel apply for?
When you sign up for LoveMyGasPrice, your “capped price” is fixed and applies for the next 12 months as long as you keep your account current.
How does it work when I actually step up to the pump to fill up? Do I get a membership card or have to punch in a code?
The beauty of LoveMyGasPrice is that you don’t have to do ANYTHING different or additional at the pump. You will not receive a membership card or have to remember a code. We use gas prices in your area (as published by the US Government) to estimate what your fill-up costs are. Since gas price in your area and your actual gas price will rise and fall together you will be covered with cashback when gas prices increase and continue to benefit if gas prices stay low. The same principal to diesel plans.
I buy premium unleaded gas at the pump, which is higher than regular. Is your average index calculated for regular or premium gas?
The index is based on regular gas but, as a LoveMyGasPrice customer, the only thing that matters are the price increases in the future compared to current prices… not what kind of gasoline you are using. Since prices of all gasoline grades tend to go up and down together you will be covered. See the infographic below:
Don’t U.S. gas and diesel prices vary across a pretty wide price range? Will you ever offer price points based on geographic gas prices?
Yes, prices can and do vary across the country. However, the only thing that matters are price increases in the future compared to current prices… not where you are actually filling up. Since gasoline prices across the country tend to go up and down together you will be covered. See the infographic below:
How do you know how much I pay for my gas or diesel?
We use the US Government’s, through the Energy Information Administration (EIA), assessment of weekly average retail gasoline prices in your area.
For gasoline, we use EIA’s U.S. Regular Conventional Index found here.
For diesel, we use EIA’s U.S. Ultra-Low Sulfur Index found here.
While we don’t track what you specifically pay for gas or diesel, we assume that on average you are paying about the same price for gas that the EIA calculates for your area for that specific week. We do not track your movements or location and have no means to do that.
Do I get my money back if gas or diesel prices never go up?
LoveMyGasPrice is essentially designed to protect you against high gas prices. For a nominal monthly price, we protect you if gas or diesel prices increase. If gas or diesel prices stay low, you benefit with less costly fill-ups. In order to ensure that we can honor our commitment to you if gas or diesel prices increase we incur costs in the wholesale markets even if gas or diesel prices never go up. Even if you did not receive any money back, we hope you viewed our service as a valuable way to gain peace of mind in the event gas or diesel prices did increase.
What if I am planning a trip and will not be filling up in my local area?
At LoveMyGasPrice we try to keep things simple. Our capped price for gas or diesel is based on a national average so it does not matter where you fill up.
Do I have to fill up at a specific gas station to get the benefits of LoveMyGasPrice?
You can fill up at any station you want and can continue to search for the best price for gas in your area. . We don’t track your movement or location and have no means to do so. We use the US Government’s, through the Energy Information Administration (EIA), assessment of average national retail gasoline or diesel prices.
How do you know how many gallons I use or how many miles I drive?
We don’t track your movement or location and have no means to do so. Our service assumes you fill-up for 20 or 50 gallons per month (depending on the plan you select) and calculates your cashback amount based on 20 or 50 gallons. For example if you cap price was $2.50 per gallon and the actual gas price in your area was $4.00 per gallon, you would receive 20 gallons x $1.50 cents= $30 that month. If you fill up for more than 20 gallons per month, you should consider buying multiple amounts of our service so that you are adequately protected from high gas prices.
What if use more than 20 gallons per month?
We allow you to add any combination of our 20 or 50 gallon per month plan in our enrollment process. So regardless of how much you drive, you can customize a plan to meet your needs.
What happens if I use I different grade of gasoline?
We use the US Government’s, through the Energy Information Administration (EIA), assessment of weekly average retail gasoline prices in your area for all formulations meaning it is the average of all the types of gasoline in your area which would include regular, midgrade and premium. Your cap price will be compared to this index for calculation of your cash back amount. See the infographic below:
Do you offer this service in Canada or Internationally?
No, we currently only offer service in the US.
What forms of payment do you accept?
We accept all major credit cards. If you enrolled using PayPal in the past you can still do so.
How safe is the data I give you?
We do not store full credit card, bank account, or debit card information on our servers. We use Stripe and PayPal as our merchant providers.
What if I want to cancel?
You can cancel anytime without penalty. Simply email us at email@example.com. Keep in mind that once you cancel, you will no longer be eligible for any cashback if the actual gas or diesel price (depending on the plan you enrolled in) exceeds your cap price.
Why can’t I reach you, someone in your organization, or a live customer support person directly to answer questions?
We endeavor as much as possible to keep our service simple to understand and our monthly fee as low as possible. Just go to the "Contact" tab, describe your question, comment or request, and we will respond to you as quickly as possible, usually within 24 hours. If you leave us a phone message at (844) 588-6942, we will call you back right away or at a time convenient for you, usually within 24 hours.