This Is the smartest thing i have ever heard of and I am Surprised that more people did not think of this or join in. This feels pretty good Altrichter said as he filled the tank of his Ford F-150, where the gas price in Minnesota 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.
First Fuel Banks claims it is the only retailer in the country where customers can buy gasoline for the future and hedge against rising prices. It advertises no service charge and no storage charge, just a $1 lifetime membership fee. They even have their current prices available on their website.
Altrichter said one of his neighbors got in at First Fuel Banks several years ago and is now is withdrawing from a reserve that cost him 99 cents a gallon. How about that he said.