Q&A: Wild idea for gasoline trading. Could this work?
I recently bought several ounces of gold as an investment and today while driving past a gas station and seeing the new low prices, I had an idea.
The gold I bought was in a ?pool? where I don?t actually possess the gold physically, but own it the same way I own a stock in a company. I can buy it at $ 800/ounce and sell it later at $ 900 ounce, or whatever. Could this work somehow with gasoline?
Could a gas station offer to sell its customers a prepaid gas card good for X gallons, and charge them the going rate at the time of purchase, so that if I wanted to, I could go in and buy 500 gallons of gas at $ 2.15/g and then use the gas card once prices went up (if they went up)?
Or if that won?t work, how about a company that brokers deals between its customers, kind of like a stockmarket for gasoline. So you could buy and sell interest in gallons of gas, and maybe pay a small fee if you wanted to redeem the gas you own for actual gas rather than trading it on the market?
www.goldsenze.com Answer:
You can?t buy gasoline by bulk unless you?re a company or you have a license, because the EPA has regulations on how much gasoline you can store.
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