ST. CLOUD, Minn. -- Some consumers are smiling while gasoline prices are soaring, because they stocked up when prices were down, reported WCCO-TV in Minnesota.
Bridget Miller is a First Fuel Bank customer. She filled her tank for $1.99 per gallon on Wednesday because she prepaid for hundreds of gallons of gasoline at that price months ago, said the report.
The six-station First Fuel chain uses a debit system allowing customers to "bank" gasoline by paying for it in advance at that day's price. The system then subtracts what customers [image-nocss] use with each fillup.
Based in St. Cloud, Minn., First Fuel claims to be the only gas station chain in the country to use this system.
When Patrick Schendzielos filled up his truck on Wednesday, he drew from a bank of gasoline he paid for years ago at 98 cents per gallon. It would have cost him $35 more to fill up at another station, the report said.
About 300 First Fuel customers are paying less than $1 per gallon today, the company said.
First Fuel warns new customers that the system can be a bit of a gamble as gasoline prices go down. But the gamble has paid off for some customers, according to the report.
First Fuel has four locations in St. Cloud, one in Waite Park, Minn., and one in Monticello, Minn. The owner told the news outlet that there are no plans to expand the chain, as its margins are tight.
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