Are there any fuel-bank / prepaid gasoline companies in Seattle or WA? July 13, 2009 2:21 PM Subscribe
Pre-paid gasoline (aka fuel banks) - how can I do this in the Seattle area? Fuelbank sounds perfect, except for the minor detail of possibly being a scam(?). First Fuel Banks only has a few locations in a distant state.
Do I have any options that will work in the real world, in my area? I am Joe Public, not a business or organization. posted by -harlequin- to travel & transportation (1 comment total)
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If you can't find a fuel bank, couldn't you buy gasoline futures through an investment company, in order to accomplish the same hedge against an increase in gas prices?
Perhaps you buy $1000 of gas at today's price of $3.00 per gallon, or 333 gallons. When the futures mature, say gas is really at $6.00 per gallon. Your $1000 has bought you 6 * 333 = $2000 worth of gasoline.
I'm not in finance and I might be wrong about how that works, but it seems like the same general idea and same risk: either way, you're banking against the assumption that gas prices are going to go up in the future. posted by Blazecock Pileon at 4:17 PM on July 13
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Perhaps you buy $1000 of gas at today's price of $3.00 per gallon, or 333 gallons. When the futures mature, say gas is really at $6.00 per gallon. Your $1000 has bought you 6 * 333 = $2000 worth of gasoline.
I'm not in finance and I might be wrong about how that works, but it seems like the same general idea and same risk: either way, you're banking against the assumption that gas prices are going to go up in the future.
posted by Blazecock Pileon at 4:17 PM on July 13