Are there any fuel-bank / prepaid gasoline companies in Seattle or WA?

July 13, 2009 2:21 PM

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 around Seattle, WA (1 answer total)

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, 2009