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With a bet that gasoline prices will continue to soar higher and higher, Is there any possible way of hedging against having to pay what the price at the pump will be next month and the month after?
Is it legal and safe to store Gerry cans of gas in one’s garage or renting out a storage unit for this? Are there any safe zones to store gasoline without a huge cost of maintaining the space to store it?
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Storing that much gas is hazardous of course, and also illegal in many jurisdictions. Here in our state: "You must not store more than 25 gallons of flammable liquids in a room outside of an approved storage cabinet." Not worth the risk, in my opinion, to save the few dollars difference, unless you build a concrete block shed for it. I don't think any storage place wants gas in their units, most will ban anything flammable. An approved storage cabinet big enough for 5 of the 5 gallon cans is about $1,100 (I have one). Then there is the need to add Sta-Bil or some other preservative, which will keep it fresh for up to 2 years.
You can buy yourself a fuel storage tank. Many farms have them and they buy their diesel by the truck load. The tanker comes right out to the farm and fills their storage tank for them. Generally 300-500 gallon storage tanks.
Or you can store fuel in 50 gallon barrels that are made for fuel storage. You can haul those around in the bed of a pickup so you can go to the gas station and fill them and transport them by yourself. Purchase them at any farm supply store.
However, be aware that if you are asking about gasoline and not diesel fuel, gas doesn't actually store for very long. You can put fuel preservatives into it, but it still won't last long in storage.
I suspect that by the time you buy the storage tanks and pay for delivery, you won't end up saving any money in the long run
You can bet we will see more supply come on board at these prices …for a while we were drowning in oil before the rigs were shut down because prices fell so much
However, be aware that if you are asking about gasoline and not diesel fuel, gas doesn't actually store for very long. You can put fuel preservatives into it, but it still won't last long in storage.
I suspect that by the time you buy the storage tanks and pay for delivery, you won't end up saving any money in the long run
I've read and heard that properly treated gasoline has about a six month shelf life. You'd need to be sure that year's worth of gas can get used within half that time or you just wasted your money. If you rotate the gas you'd still be buying the fresh stuff at higher and higher prices. I recall my miserly dad stockpiled a half dozen Gerry cans of gas during some gas crunch or other. They sat in a row behind his garage for YEARS! A total waste, a fire hazard (until the hoard degraded anyway), and illegal in the community he lived in.
Last edited by Parnassia; 03-15-2022 at 11:39 AM..
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,662 posts, read 81,403,499 times
Reputation: 57917
Oil prices have dropped 30% and I noticed that our gas prices have come down a few cents. As usual, gas does up and down. Overall it may stay in the $4-5 range long term but that's not enough to go to the trouble and danger of storing it. Now when stations start to close because the EVs are catching on, in about 2050, it might make more sense. Back in 1975 my wife and I made a trip to Wyoming from California, and I had a 1973 For Courier that got 18 mpg but only had a 12 gallon tank. We carried a full Gerry can the whole time but never needed to use it, with plenty of gas stations along the way. Eventually that won't be the case, especially in the more urban big cities.
With a bet that gasoline prices will continue to soar higher and higher, Is there any possible way of hedging against having to pay what the price at the pump will be next month and the month after?
Is it legal and safe to store Gerry cans of gas in one’s garage or renting out a storage unit for this? Are there any safe zones to store gasoline without a huge cost of maintaining the space to store it?
It doesn't store well. Gold will last longer.
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