Reverb

Here’s a brilliant idea to give people more control over how much they’re paying for gas. This idea certainly isn’t a new one, it’s just never been applied to this particular market before. Gasoline.

The idea works on the fundamentals of hedging. Often used in the business/finance world to reduce your exposure to risk.

Well there’s a company called “First Fuel Bank” in Minnesota that has based their business model on these ideas.

The idea is you prepay for the gas that you will forsee you’ll be using. There is no minimum or maximum to how much you must purchase. By doing so you lock in that amount of gas at whatever the prices are currently. If the gas goes up in price you simply fill up from your pre-purchased gas. If gas goes down and costs less than what you paid, well hey you simply just pump and pay like current gas stations.

Only thing is it costs $1 for a lifetime membership, which is certainly worth it. Currently they only have 6 stations in Minnesota, but if this idea catches on it’d be great! Check out the full details at First Fuel Bank