Hyundai Pricelock has got your gas bill covered

Hyundai Genesis Coupe turbocharged track package first impression
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First the Korean automaker was assuring to take over your payments in the event that you couldn’t pay your bills until the end of the year. Then they were paying you to buy one of their cars until the end of the year. Well if you are worried about the upcoming summer gas hike, Hyundai has got you covered once again. With a program called gas lock, the automaker is allowing customers to buy in to a program allowing them to purchase gasoline for only $1.49, quite reassuring with prices expected to exceed $3.00 in the near future.

Our question is why are all the incentive programs being offered until the end of the year? It would have been nice if you told us about these things back in January. At least with gas Gas Lock, Hyundai promises you up to a year’s worth of liquid. It looks like the deals will only be getting better as the seasons come and go, heck they will probably be giving away Genesis Coupe’s after Christmas, if so, we’ll be in line.

While $1.49 sounds good, mid-grade and high test will come at a premium, $1.64 and $1.79 respectively. However those prices aren’t bad either, even though the Lambda V6 has been tuned to run just fine on 87 octane.

<i<Press release after the jump.


With Assurance Gas Lock and One of the Most Fuel-Efficient Lineups in the Industry, Hyundai Welcomes Owners Trading Out of Older Gas-Guzzlers

With gas prices expected to push over $3 per gallon during peak summer travel months, Hyundai Assurance Gas Lock guarantees a year’s worth of gas at $1.49 per gallon on most Hyundai models leased or purchased between July 1 and August 31, 2009. Hyundai Assurance Gas Lock complements Hyundai Assurance and Hyundai’s 10-year, 100,000-mile warranty, and is available with special rebate and financing options on individual models.

“Hyundai Assurance is a unique platform because it enables us to partner with consumers in ways that address their immediate concerns,” said Joel Ewanick, vice president, Marketing, Hyundai Motor America. “We’ve extended Hyundai Assurance to cover gas prices just as peak summer demand traditionally strains budgets further, guaranteeing most new Hyundai owners a year’s worth of low gas prices. It’s another way we show consumers that, in this downturn, we’re in this together, and we’ll get through it together.”

The average U.S. price for regular-grade gasoline closed at $2.64 per gallon on June 29, 59 cents per gallon higher than its price at the end of April according to the Energy Information Administration. Regular-grade gasoline prices are expected to reach their summer seasonal peak in July, with a monthly average close to $2.70 per gallon, and many local markets over $3.00 per gallon. Hyundai Assurance Gas Lock enables consumers to save between $1 and $1.50 per gallon at the pump from current gas prices with the purchase of a new Hyundai.

“Our research shows that nearly 40 percent of potential new car buyers are staying out of the market specifically due to uncertainty around future gas prices,” said John Krafcik, CEO and president of Hyundai Motor America. “With Assurance Gas Lock, we’re empowering consumers with gas price stability so they can make a confident vehicle choice. And for those buyers out there driving older gas-guzzlers that qualify for the new government CARS program, we think our fuel-efficient lineup of award-winning vehicles, combined with Assurance Gas Lock, makes Hyundai an unbeatable combination.”

To sign up for Hyundai Assurance Gas Lock, new Hyundai owners simply register their valid Visa, MasterCard, American Express or Discover credit card, or a Visa or MasterCard check card, at After enrolling, the consumer will receive a new Hyundai Assurance-branded card to be used for all future fill ups. The consumer is billed $1.49 per gallon of regular-grade gasoline, regardless of the price at the pump, and Hyundai pays the rest. (The driver may elect to purchase mid-grade gasoline for $1.64 per gallon, or premium gas for $1.79 per gallon as well, although all eligible Hyundai vehicles are factory-certified for regular fuel.) The card can be used at any gas station in the Voyager credit card network, which covers 93 percent of gas stations nationwide including brands such as Exxon, Chevron, BP, Shell, Mobil, 76, Texaco and many more. Consumers are eligible to purchase a maximum number of gallons equal to 12,000 miles divided by the EPA combined fuel economy rating for the qualifying model.

Hyundai Assurance Gas Lock is standard on all new Accent (excluding base model), Tiburon, Elantra, Elantra Touring, Entourage, Sonata, Azera, Santa Fe, Tucson and Veracruz models, most of which are eligible for $3,500 to $4,500 in government CARS (Consumer Assistance to Recycle and Save) vouchers for those consumers with less fuel-efficient trade-ins. Four Hyundai models achieve more than 30 miles per gallon on the highway –Accent, Elantra, Elantra Touring and Sonata. Hyundai ranks third in corporate average fuel economy according the U.S. Environmental Protection Agency, so consumers will realize further cost savings by stepping into a more fuel-efficient model than they currently drive.

Hyundai Assurance, the first program of its kind for an automaker in the U.S. auto industry, allows consumers to walk away from a financing obligation when certain adverse life events occur, providing protection from financial shortfalls that arise from vehicle depreciation (negative equity) up to $7,500.

Hyundai Assurance and Hyundai Assurance Gas Lock complement America’s Best Warranty as standard protection on eligible new vehicles financed or leased from a participating Hyundai dealer. For full details about the programs, visit:


Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced through more than 790 dealerships nationwide.


The Hyundai Assurance Gas Lock program is offered in partnership with Pricelock. Pricelock, based in Redwood City, California, is the world’s first company to combine patented technology and commodities expertise to bring price predictability to the volatile $700 billion retail fuel market. The company also offers Carbonlock(TM), a unique, patented "green fleet" program that allows fleets and businesses to efficiently acquire certified carbon offsets and become carbon neutral. Pricelock can be found on the Web at

What do you think?
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  (380) posted on 08.25.2010

Wow! Will this run until the year end?, I’m impressed with hyundai.

  (182) posted on 07.4.2009

I think that this is still partly irresponsible for car companies. Instead of engineering alternative ways of giving power to your cars, they have ensured that they would lower down the price. Car enthusiasts should be critical about this. They are not just here to do good will but to also earn money. I’m sure they would earn money from this. So much for Corporate Social Reponsibility.

  (182) posted on 07.4.2009

I’m very impressed with the idea behind Pricelock. I’ve visited the site and found out that its not all about saving your pocket but the whole world too.

  (183) posted on 07.4.2009

Actually, there are reports saying that gas price per barrel can go as high as 93$ in 2011. I wish Hyundai would extend their offer until then. By this time, I guess the perfect solution is to invest in hybrid cars. They can be a bit pricey but its worth the investment just in case the prediction were true.

  (180) posted on 07.4.2009

The offer is not that bad, actually, I think it is the BEST offer ever! Well aside from the fact that they could give away the Genesis after Christmas. Bullish analysts at Goldman Sachs, a global investment bank and securities firm, said that gas price would be raised from 50$ per barrel to 59 for 2009 and 80$ for 2010.

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