Are Gas Banks the Answer to Our Gas Woes?

The Concept of Gas Banks is Becoming Increasingly Popular

Yes, I realize I’ve been talking about the price of gas quite a bit lately, but with gas prices exceeding three dollars a gallon in some areas, who can blame me? Many of us are on opposite sides of the coin when it comes to our opinions on the rising cost of gas, but whether you are mortified about rising gas costs or you think it’s just par for the course there is one thing we can all agree on — the increase in gas prices has just begun. So are we destined to see a future that holds gas costs of $5 a gallon or more? Maybe not — gas banks may be the answer we very much need.

An Ideal Concept

There are money banks, food banks, clothing banks — why shouldn’t there be gas banks? Well believe it or not, there are indeed gas banks in some places in our nation and some people who have taken advantage of those gas banks are currently paying less than a dollar a gallon. Sound too good to be true? It’s not.

It’s All About Timing

Here’s the bad news — while some people are indeed paying less than a dollar a gallon by utilizing gas banks, you’re not going to be one of those people unless you locked in that price years ago by paying for your gas at that time. However, if you start utilizing gas banks today and buy a few years worth of gas at today’s gas prices, you may indeed only pay three dollars per gallon for gas even if prices skyrocket to more than five dollars.

The Risks

Okay, this may get a chuckle from many of you, but there is a risk that if gas prices go down, you may be paying more for your gas than what it’s worth. However, with the way things are going, I find that scenario to be highly unlikely.

The Bad News

The bad news is that gas banks aren’t available in all areas. However, with the way gas prices keep going up more and more people are becoming interested in the concept, many areas may be seeing gas banks sprouting up in the near future.

A Golden Opportunity

So for those who are ambitious entrepreneurs, follow the lead of those who have started successful gas banks and bring a much-needed service to your fellow citizens. And for those who don’t yet have any gas banks in their area, let’s just hope it’s just a matter of time.