May 14 2009, Published 10:24 a.m. ET

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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.

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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.



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