I am in NYC now and thinking about the volatility of gasoline prices in the States I came up with an idea for a credit card that fixes the price that you will pay for gas for the next 5 years. The concept is that you would commit to buy a certain amount of liters at a certain fixed price for 5 years and with this credit card every time you go to a gas station you would pay this price at the pump and the credit card company would pay the rest or collect the rest from the gas stations. What this credit card would do is to bring to the average citizens the financial tools for hedging already available to large oil companies in the form of a credit card, an instrument that everyone is familiar with. Since I am too busy to develop this idea….I blog it. Maybe it exists already. If it does I apologize. I have not even had time to research it.
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