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A Miami-based company this month has taken the unusual step of providing motorists with a hedge against rising gasoline prices.

However, it also has generated major controversy about whether or not the service is a scam.

MyGallons.com is offering drivers the chance to pre-buy gasoline at the current price and fill up later when prices — presumably — are higher.

Much of the blame for rising gasoline prices has been attributed to oil speculators who are betting a future barrel of crude will cost even more than it does now.

Drivers have been left at the mercy of such speculators because few can play the futures game and cash in on ever higher oil prices.

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Dear Terry,
I have a loaded 2004 Kia Sorento that went from a lease to a loan with three years left on payments. I need something a little smaller and more economical with payments not more than $300 a month. Is this possible?
— Karen Haggas

Dear Karen,
To get to $300 a month in payments, you’re looking at a loan of $15,000 for 60 months. There are a number of fuel-efficient vehicles you can get in that price range, such as the Toyota Yaris. The big question here is whether you have any equity in the Kia Sorento and whether you’ll have to pay that off first. (more…)