Why can't consumers buy fuel futures?
It is therefore surprising that a prudent consumer in the US (or in any other country I'm aware of) has essentially no ability to protect himself from the risk of future high gasoline prices. This is all the more surprising considering that that the Chicago Mercantile Exchange quotes future prices for gasoline contracts with maturities up to three and a half years from now. Presumably it would be technically feasible for a company to buy contracts for all maturities up to February 2019, split them off into 25 gallons per month cards, and sell them at gas stations or car dealerships. If consumers didn't want to fork out the cash in advance, they could do the same with options (and buy a card that allows you to buy up to 25 gallons of gasoline at a fixed price). Why doesn't this happen? Are there regulatory constraints?
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