The effect of dissolved gas (nitrogen, argon) on the properties of the droplets in water-in-oil and oil-in-water microemulsions (surfactant aggregation number, microviscosity, and micropolarity) has been investigated by means of time-resolved fluorescence quenching and spectrofluorometry. This study extends a similar one on aqueous micellar solutions (R. G. Alargova et al., Langmuir 14, 1575, 1998). The selected microemulsions were characterized by droplets of fairly large size and high volume fraction, in order to minimize the effect of the curvature of the surfactant layer and maximize the amount of gas that can he solubilized in the system. Within the experimental error, the investigated properties (surfactant aggregation number, intradroplet quenching rate constant which is related to the droplet microviscosity, and fluorescent probe lifetime and micropolarity) were found to be independent on whether the system was degassed, nitrogen-saturated, or argon-saturated, in the temperature range between 10 and 35 degrees C. The results confirm the conclusion reached in the above study; i.e., the effect of solubilized gases on the hydrophobic interaction which controls the formation of surfactant assemblies is extremely small and well below the sensitivity of the fluorescence probing techniques used in this investigation.