T Nation

Gas Bank


#1

Has anyone else heard about this? I thought that this was a unique idea.

http://www.comcast.net/news/national/index.jsp?cat=DOMESTIC&fn=/2006/05/08/386611.html&cvqh=itn_gasbank

[i][b]Bank Lets Drivers Hedge Against Gas Hikes[/b]
By GREGG AAMOT, Associated Press Writer

ST. CLOUD, Minn. - Most motorists are feeling the pain as gasoline creeps toward, or over, $3 a gallon _ but not Art Altrichter.

"This feels pretty good!" Altrichter said as he filled the tank of his Ford F-150 pickup for $2.03 a gallon on Thursday, when the average here was $2.73. "Right now, to be a few pennies over $2, when it's as high as it is? That's a real deal."

A year ago, the retired milk truck driver bought 500 gallons of gas at First Fuel Banks, locking it in at the then-current price of $2.03 a gallon. He taps that reserve whenever gas rises above that mark. If the retail price drops below $2.03, he can leave his reserve alone and buy elsewhere...[/i]

http://www2.firstfuelbank.com/