Locking In LOW Gas Prices

[yandig]

Recently, I've thought that it's not fair that big companies can make millions off of fluctuating gas prices, but the consumer is at the mercy of the pump. Of course, one can invest in Crude futures, but that's not too practical for most of us.

I came across a few companies that offer drivers the chance to lock in gas prices by prepaying for their gallons. However, I've yet to find a service that can actually tell you if you can use their cards in your area, or how much of a premium you might be paying to regular pump prices.

Here are a few of the interesting websites that I've found:

www.MyGallons.com --- it looks like they do not have a payment network at this time.

www.fuelbank.com --- they don't list much info on their website. It looks like you have to sign up to get more details

www.firstfuelbank.com --- Only in St. Cloud, MN?

Also: www.GasBankUSA.com

Anybody know of any good, nationwide programs that allow you to lock in gas prices?

 

[Compassion]

I'd be interested in this information too.

 

[deet]

Now that fuel prices are dropping it may or may not be a good thing to lock in your rate.

They had a thing on our local news where some folks locked in at the $3.50 per gallon rate. Right now Gas is down to $2.19 per gallon and heating oil is at $2.40 per gallon. So be careful when locking in your rate. Not something I would do unless it got down to about $2.00 per gallon then you can't really lose!

 

[Ross]

Yes i agree with deet if it is $2.00 or below you really cant lose that much compared to it being locked at $3.5 or price going up.

 

[holyroller]

Now that fuel prices are dropping it may or may not be a good thing to lock in your rate.

They had a thing on our local news where some folks locked in at the $3.50 per gallon rate. Right now Gas is down to $2.19 per gallon and heating oil is at $2.40 per gallon. So be careful when locking in your rate. Not something I would do unless it got down to about $2.00 per gallon then you can't really lose!

Surely if the price is lower than your locked in price, you can just pay at the pump like normal until it goes back above your locked in rate.

 

[Ross]

Surely if the price is lower than your locked in price, you can just pay at the pump like normal until it goes back above your locked in rate.

I had thought of that as soon as i made my post.

Looks there is not a mainstream program at the moment but i am sure many people would love to do this.

 

[holyroller]

I had thought of that as soon as i made my post.

Looks there is not a mainstream program at the moment but i am sure many people would love to do this.

I found a company that you can buy a massive big storage tanks which has the fuel pumps on. You could fill this up when gas is cheap, that would lock in the prices for you lol. Then you can just fill your car up at home.

 

[yandig]

I found a company that you can buy a massive big storage tanks which has the fuel pumps on. You could fill this up when gas is cheap, that would lock in the prices for you lol. Then you can just fill your car up at home.

Your neighbors might not like that within 1000 yards of their house.

 

[holyroller]

Your neighbors might not like that within 1000 yards of their house.

I only have one neighbour and they don't like me anyway, so all is good :lol:

 

[deet]

Most "Lock in your price" companies have a contract and you must buy a certain amout of gas or heating oil per year atleast thats the way it is around here.

Trust me there is alot of fine print and you will be locked in under contract.

the oil companies know you better than you know yourself!

 

[Mike]

$1.86/gallon here....I have to look into that!

M.

 

[holyroller]

$1.86/gallon here....I have to look into that!

M.

The price has hardly dropped where I live since its peak.

 

[bidawinner]

Here are a few of the interesting websites that I've found:


www.firstfuelbank.com --- Only in St. Cloud, MN?

?

yandig First Fuel Bank is 2 Blocks from my Home and yes St Cloud only. There are still people in town who have banked $1.00 a gallon gas

I have bought a few hundred gallons a few times from them ..simply costs $1 for your First Fuel Bank card that you use to swipe at the pump and deducts from your account

I burn only E85 and yes they carry it but it is at $1.99 a Gallon and 10 Blocks over I can buy E85 for $1.49 a Gallon at the Coborns/Little Dukes Station http://e85prices.com/minnesota.html

First Fuel Banks unleaded is $2.37 but you can buy Unleaded for $1.89 in Town ..so at the moment the only people that are even using First Fuel Bank are Fleets ..like the School system, Police etc.. Ga is cheap even at $1.89 a Gallon so even if you have "Banked" fuel at $1.30 a gallon you wont use that..you'll save that for when Gas goes to $4 a gallon this summer

Yep even at $2.37 you can stock up/bank fuel for summer

 

[Mike]

yandig First Fuel Bank is 2 Blocks from my Home and yes St Cloud only.

Tell them to get their business to Fargo. There's an abundance of opportunity here.

M.