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Author Topic: I would like to buy gas in advance if there was a way to do it. Back to Topics

Champion Author

Joined:Dec 2012
Message Posted: Feb 18, 2013 1:44:55 PM

I like the concept of futures, except geared to the driver.

If I could buy 200 gallons from a reliable station at a set price, I'd strongly consider it. For example, I would be committed to buy 200 gallons within 1 year at $3.55/gallon. If gas is $3.75, I win. If gas is $3.30, I would have paid more. If gas is cheap and I keep waiting hoping that it goes beyond my benchmark price, after a year, I have to either get the gas or pay.
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Champion Author Florida

Joined:May 2010
Message Posted: Apr 30, 2013 10:47:02 PM

I heard that there was a place somewhere in the mid-west that they did prepay for fuel to lock in the prices but for most of us this won't work.
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Champion Author Dallas

Joined:Aug 2003
Message Posted: Apr 30, 2013 10:18:40 PM

i wait till its lowest price before the gouge and FILL UP!
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Veteran Author Houston

Joined:Apr 2013
Message Posted: Apr 30, 2013 9:38:35 PM

Gambling is fun.
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Champion Author Nashville

Joined:Oct 2005
Message Posted: Mar 24, 2013 1:20:18 PM

Not practical for most and maybe you too.

[Edited by: bluenvoy at 3/24/2013 1:22:09 PM EST]
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Champion Author San Diego

Joined:Jul 2012
Message Posted: Mar 24, 2013 11:27:04 AM

Did you know you can buy or sell gasoline futures on the New York Mercantile Exchange? You can buy Heating Oil, Natural Gas, Crude Oil, etc. too. Good luck.
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Champion Author Stockton

Joined:Jun 2008
Message Posted: Mar 13, 2013 7:30:36 PM

Build yourself a big tank on your property. Then have tanker trucks deliver to you til you fill it up. Do this only when the price of gasoline is down. You may have to sell some to your neighbors to keep them from turning you in to the city planning commission. But, cheap gas will prompt them to keep their fat traps shut.
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Champion Author Pennsylvania

Joined:Jun 2003
Message Posted: Mar 9, 2013 6:49:38 AM

Basically you want a pre paid gas card but instead of using the current price you want to purchase the gas at the price when you originally bought the card. Sounds interesting, but a logistical nightmare.
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Champion Author Maryland

Joined:Jun 2011
Message Posted: Mar 8, 2013 3:21:58 PM

Bulk tanks would be the way to go, but I'm sure the EPA would have more restrictions and requirements, just to discourage those who want to do it.
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Champion Author Houston

Joined:Mar 2011
Message Posted: Mar 8, 2013 2:02:12 PM

Not saying the sytem could not be implemented but as a cautionary word of advice the last time a company tried to offer fixed pricing to the customer level for an energy product the product was Natural Gas and the name of the company offering the service was Enron.
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Champion Author Alabama

Joined:Mar 2011
Message Posted: Mar 8, 2013 12:50:33 PM

It is called the futures market.
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Rookie Author Orlando

Joined:Feb 2013
Message Posted: Mar 8, 2013 9:30:36 AM

Yes, if it convenient to do so
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Champion Author Mississippi

Joined:May 2004
Message Posted: Mar 8, 2013 9:24:07 AM

I have no place to install a "bulk tank", but if I could, I would
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Champion Author Minnesota

Joined:Feb 2008
Message Posted: Mar 8, 2013 8:46:07 AM

Bulk tank. Thats how we do it on the farm. Sometimes your ahead, some times what you bought is more later. Just part of the game.
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Champion Author South Carolina

Joined:Apr 2011
Message Posted: Mar 8, 2013 7:34:48 AM

Sounds interesting but difficult to implement.
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Champion Author Des Moines

Joined:Sep 2005
Message Posted: Mar 8, 2013 7:32:54 AM

install a gas pump
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Champion Author Wisconsin

Joined:Jun 2011
Message Posted: Mar 8, 2013 5:53:40 AM

there are many other ways to save on gas expenses, start with proper tire inflation, the number 1 reason of tire wear and failure.
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Champion Author Lexington

Joined:May 2005
Message Posted: Mar 8, 2013 5:15:14 AM

You could buy that amount, but first you had better check with your local fire department bureau in regards to properly storing it without being in violation.
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Champion Author Maryland

Joined:Jun 2004
Message Posted: Mar 8, 2013 1:13:40 AM

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Champion Author Tampa

Joined:Oct 2005
Message Posted: Feb 18, 2013 11:46:32 PM

I used to do that long ago up north and had my own underground tank which I also used with a tractor. But alas we all wish we had that about $.75 ago a few weeks back. But that is not the way it works. And now even with more oil in the US the price keeps going up, and yet refining is back up on the East Coast. The only way out is better MPG and a good alternative or hybrid for now.
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Champion Author Maine

Joined:Feb 2011
Message Posted: Feb 18, 2013 11:46:18 PM

actually there are plenty of ways to improve vehicle efficiency that would be an easier way of saving money on gasoline.
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Champion Author Chicago

Joined:Jul 2001
Message Posted: Feb 18, 2013 11:26:23 PM

Priceline about 10 years ago was in the business of selling gas in that manner. Didn't work out for them.
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Champion Author Maryland

Joined:Aug 2004
Message Posted: Feb 18, 2013 8:07:43 PM


You read the original post wrong.

He's not looking to buy and take possession of the gas all at one time and then, literally, pour it into his gas tank.
He's looking to make a deal to buy 200 gallons of gas over the next year, getting a tankful of gas at a time from the local gas station, whenever he needs gas (just as he currently buys gas only when he needs it), except he wants to get an agreed on price and if prices go up, he gets to pay only what the agreed price was.

Essentially he wants to pay today's price (or an agreed upon price) and if prices go up in the future, he'll pay today's price. But, because he's only talking a relatively small amount over a long period of time, if the price of gas goes below the agreed on price, between now and the end of the year he'll buy gas on his own, or from another gas station, and paying for the gas at that time (by credit or cash), not buying gas against his "agreement" because that would be a higher price.

Basically he's looking to get the gas station to agree to a low price and then, when prices go up, he will pay the lower price, even if it means the gas station has to sell it to him below the wholesale cost the gas station has to pay.

Read the original post again (and my earlier post).

[Edited by: Gas_Buddy at 2/18/2013 8:12:56 PM EST]
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Sophomore Author Dallas

Joined:Apr 2011
Message Posted: Feb 18, 2013 7:31:36 PM

Gasoline will separate and not be usable if it sits too long, so purchasing your gas in advance can really backfire on you if you aren't consuming it fast enough.
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Champion Author Maryland

Joined:Aug 2004
Message Posted: Feb 18, 2013 6:40:32 PM

Nothing stops you from buying gas futures. You're just saying you want to be a speculator, similar to those that many here complain about.

Just make an arrangement with a distributorship and/or a gas station with the proviso that you'll buy X number of gallons for $Y per gallon, as you suggested. Just expect that, because you're saying that you want to be a very small investor (buyer), it's unlikely that they'll agree to your purchasing that little over that long a period of time. After all, they have to be able to ensure that they don't lose money on the arrangement. They might, however, agree to your buying a small amount (such as you're saying) over a three or six month period. Or, you might want to get with others and commit to a larger purchase, essentially creating a cooperative among yourselves. Alternatively, you can say that you'll buy X amount per week, every week, at an agreed price.

Or, consider installing a holding tank and buy in bulk.

What you're saying, the way you posted it, is "I want to buy about ten fill-ups but on my terms." Trying the same intent with more favorable business terms for the gas station and you might get someone to be interested; but a gas station isn't going to sell fuel to you, no matter how much you say you'll buy, at a loss.

Just remember, by posting this thread, you are now saying you want to be a speculator in in fuel, meaning that you can't complain about other speculators. (And I don't mean that sarcastically). What you now need to do, if you haven't already done so, is when others complain about "speculators", you have to either explain their perspective, or at least be quiet.
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Champion Author Alabama

Joined:Mar 2011
Message Posted: Feb 18, 2013 5:43:09 PM

Why not just buy stock in Chevron or Exxon? The dividends are pretty sweet and they have a nice steady growth.
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Champion Author Houston

Joined:Nov 2005
Message Posted: Feb 18, 2013 1:49:02 PM

There was a company that advertised that a while back on GasBuddy but then all we get now is ads for the BankAmericard Cash Rewards(TM) credit card.

I even got an application in the mail, and I threw it in the shredder because I have better cards already.
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Champion Author Washington

Joined:Dec 2012
Message Posted: Feb 18, 2013 1:45:25 PM

I think there's a chain of a few stations in Minnesota that does this.
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