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Did you know that within the next year, you will purchase almost 500 gallons of gasoline? If you are like me, you are currently calculating how much you will spend given the current per at the pump. When prices first began climbing, I obsessed over how I could get the best fuel economy out of my car without purchasing a more gas friendly vehicle. And while this is good too, I found that it can be a bit easier to buy cheaper gas. But where do you start? Fear not, my fellow road warriors; I have researched the topic extensively and found an excellent alternative to combat those high prices and put a few hundred bucks back in your wallet this year.
If there is one thing I am sure of, it is that I am unsure of the future. And gas prices are no exception. Fuel goes up ten cents, drops three, and then goes back up again. This is not a period of weeks anymore, this happens overnight. There is a limited quantity of oil on the planet; do you think prices will drop when no more is discovered? Doubtful. The overall trend is that oil increases in price in the long term. So let me introduce to you a term popular in the business world. Hedging. Hedging is the ability to minimize risk of an investment, hence saving you money. Oil prices are a financial risk to you, and if you have the opportunity to minimize the risk or limit the effects you should take it.
When it comes to business, I always have my ear to the ground. With the current state of our economy and the growing energy crisis, it disgusts me to see companies like Exxon Mobil posting the highest quarterly profit earning for any company (July 2008; $11.68 Billion), especially when the US consumer have been suffering the costs of an executive paycheck. Wouldn’t you invest in a company willing to end our dependence on oil? Or how about someone who is actively searching for solution to our energy crisis? Well, you can. And you should. BP is pursuing developments in technology with wind, hydrogen, natural gas, and is now a leading distributor for solar energy. Believe it.
How Do I Invest in BP? Take a moment and count the number of membership cards you have in your purse or wallet. Generally speaking, I have found that the number is at usually between three to five cards, and you rarely use any of them. These cards offer you discounts and perks with retailers and shops which you frequent. It seems odd that a gas station wanting you business wouldn’t offer you one of these cards. Well, they do. I got a BP Gas card a few months ago, and was skeptic on how much money it would save me. Yet with prices north of four dollars a gallon, I took a chance, did the math, and found that I was saving more than .20 per gallon. There is a 5% rebate on your purchases from BP, which includes gas. Also, for the first couple months, I was earning double rewards, which means I was saving 10% off my gas. At $4.30 per gallon, I was saving .43 with each gallon I pumped.
This is what I have found. Other gas cards do save you some money at the pump, yet BP’s Gas Card offers 0% APR for six months, which cannot be found with other fuel retailer. In addition, purchases relating to dining and traveling (like airfare) also offer cash back incentives, which result in more money in your pocket. This program by BP has been offered awards, and has been suggested by personal finance magazine Kiplinger as the best way to ease pains at the pump. Need I say more?
What does this all mean? You should take charge of your finances, and protect your wealth. You should invest in a company that cares about your future and is making serious efforts to change the way we live for the better. Yes, we cannot buy solar powered cars or vehicles that are run on garbage. But until then, this is a chance for you to promote people who are environmentally friendly and save yourself some money in the process. Take my word for it, you won’t be disappointed.