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98 cents a gallon?! Are they serious?

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ST. CLOUD, Minn. - St. Cloud is a 60-mile, maybe two-gallon drive from the Twin Cities. Never heard of it?

Well, listen up: In a nation of $3 gas, St. Cloudian Larry Behrendt fills up his van for ...

"I'm paying 98 cents a gallon for my gas right now," he says.
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That's under a buck!

Now we've got your attention, here's why it's so cheap. St. Cloud is home to the nation's first fuel bank.

"We have a lot of the aspects of a money bank," says First Fuel Banks' Jim Feneis. "People are making a cash deposit, but they will withdraw gas."

Customers buy gas in bulk, up front, then use a simple card each time they fill up from their reserve. The price remains fixed to the day they bought the gas.

Contractor John McDowall runs a fleet of 70 vehicles.

"Savings for us is like $150 a day for our fuel savings, which equates to about $4,500 a month," he says.


When the fuel bank opened back in 1982, the price of a gallon of gas was $1.10. Today, AAA says the national average sits at $2.92.

The mayor fills up here. So do city vehicles. It adds up to big savings for St. Cloud.

"So far it's going to amount to $50,000," says city employee Chuck Koetter.

MSNBC Article.
 
it is a buy option. hah....maybe I study too much financial derivitives for my final, now i can see final that way.
 
All I think of when reading that article is the guy freaking out on WoW of someone taking his Cloudsong.

/random
 
My neighbor does something similar to this on his own.
When Fuel prices started rising last year, he bought a BUNCH of extra tanks for his farming/trucking operation.
He scrutinizes fuel prices, and when he feels they are as low as they can get, he fills them up.
He always leaves a few empty in case prices drop even further.
Granted, he didn't get in on any of the really cheap prices, but with the amount of gas and diesel fuel he uses, he can save a lot of money just by saving $.10 or so on each gallon.
 
Originally posted by: Mike
Prices jumped another $.10 tonight up to $3.40 here in SoCal. 🙁
Click to expand...

where are you?

they were $3.40 last night before driving down to Oceanside. i was pissed.
 
Don't you get it. For those who want to go there you won't get it for $0.98. That would be if you bought it back when gas was really $.98. You could lock in the price now of $2.89 and be laughing at all of us when it is $5.00.
 
Yep, i used to go to school in St. Cloud. One of my ex's mother bought like 5000 gallons at something like 1.15 per gallon. She never used it though, so it just sat there at that price. I'm sure she's loving it now.
 
thats a cool idea, a savings bank, except for fuel.

gotta wonder how much money the bank makes, though.
 
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