New York, NY.- With fluctuating prices in the market, wouldn’t it be nice to keep one thing at a consistent price no matter what?
Gas prices have given Americans whiplash here of late with their constant changes. Gas prices are expected to rise back up to above $3 a gallon here soon; however, with their recent fall and climb, no one can truly say when this will occur.
To protect yourself against an oncoming spike, a new site called LoveMyGasPrice.com is offering to pay you back in cash should gas prices exceed a set cost. According to CNN, the site is an insurance against higher prices. It allows drivers to put a cap on their monthly gas expenses, and then if prices rise above that capped price, customers get that cash back.
Both businesses and customers can buy a gas insurance plan from LoveMyGasPrice.com for $3.99 a month, and at this time the plan caps gas prices at $2.75 a gallon which is much higher than the $2.39 national average.
Thus, if gas prices rise above of the cost of $2.75 then LoveMyGasPrice.com promises to refund customers the difference via PayPal. As for now drivers can only purchase a cap on the price of exactly 20 gallons of gas per month which is equivalent to filling the average vehicle up twice. But, if they buy more than that, they can purchase multiple plans for $3.99 each.
Would you insure your gas?