Since the decline of gas prices, I've started a fuel hedge with an ING orange savings account. Basically, I take my total mpg per gallon x $4.00 (about the price I paid in july), and subtract what I'm spending now (about $2.00) and put the rest in my fuel hedge. By the time gas gets back up to $4.00 again, I'll have enough saved up to balance the difference. Every three months, I have a google calander reminder to re-adjust my $ tranfer total. And with the ING account, I get 2.5% in return thanks to its high interest. Its free and you don't need a minimum balance. The only downside is it takes a few days to get that money transfered back into your alternative account (currently investing the ING orange checking... I'll let you know how this goes but I may dump my old chase account)
Regardless, if gas prices go up, you’ll have this money saved to use to hedge against the new higher gas prices. It will also give you time to either cut your costs or earn more to account for the higher gas prices.
check it out
Using some simple and some complex investment strategies, Southwest has for a decade locked in the prices it pays for large amounts of jet fuel months and even years ahead of time. Its success at that has protected it from run-ups in crude oil prices and dramatically cut its fuel expenses. Since 1998, it has saved $3.5 billion over what it would have spent if it had paid the industry's average price for jet fuel. That's equal to about 83% of the company's profits over the last 9˝ years.
They're kind of screwed now LOL but the basic principle of expectations leaves you a cushion. The biggest difference is actually in your best interest. Instead of taking a chance of locking in an investment with someone else, you're betting against yourself. win win.