Petrofix
May 14 2009, Published 10:24 a.m. ET
I swear, this company should hire William Shatner:”Name your own price for Gas, wimp!” This is how the new name-your-own-price-for-gas service works:
• Consumers can sign up with Petrofix for limited periods, such as three months at a time, to cap their gas prices.
• Drivers that use Petrofix can go to any gas station they want and put in any grade of gasoline at the set rate they signed up for.
Right now, Petrofix is the only Internet provider of gas price caps for consumers or small businesses. It’s a quick online process. Pay outs are quick, paid to either to your credit card or they’ll send out a check. Plans start below 25 cents per gallon and plans range from 3 months to 2 years.
Wonder how they’re going to make money? We did too. One of the company’s reps explained:
“Petrofix makes money by utilizing the fees from customers to buy large quantity of wholesale gasoline and retaining a small profit. If gas prices rise, they pass along the savings to the customers.”
Curious to see if people guzzle up.