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Page added on May 3, 2006

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98 cents a gallon?! Are they serious?

Yup, if you’re a lucky member of a Minnesota gas cooperative
St. Cloud is home to the nation’s first fuel bank.

“We have a lot of the aspects of a money bank,” says First Fuel Banks’ Jim Feneis. “People are making a cash deposit, but they will withdraw gas.”

Customers buy gas in bulk, up front, then use a simple card each time they fill up from their reserve. The price remains fixed to the day they bought the gas.

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