Wageningen is indeed a town in the Netherlands. It is particularly known for its agricultural university and for the fact that the capitulation of the German occupational forces to the allied forces (Canadians, to be precise) in WW2 was signed in a hotel there.
The token is not for a gas station, but for a gas meter: gas meters were placed in people's homes which were connected to municipal gas networks. Insertion of such a token would get you the next volume of gas. The image of a kitchen stove on the token illustrates the use.
The Netherlands has had (and still has) an elaborate infrastructure for natural gas distribution, historically organized by municipalities, so gas tokens from many different places are easy to find (also in Numista). The Dutch word for it is gasmunt or gaspenning (wiki page in Dutch).
Tokens like these were used in the first half of the 20th century. Mid 1960-s, the last token meters were dismantled. Nowadays, there is a meter registering your use. You pay a monthly advance and a final balance once a year. And obviously, everything is privatized.
Lettering: GEM. GASFABRIEK WAGENINGEN (GEM. for Gemeentelijke): Municipal gas works Wageningen.
