As the per-barrel price of black gold hits a new record high of $121.49 per barrel (according to my MarketWatch alerts), I found an interesting article over on CNN/Money that could take a bit of the sting out of the price at the pump. Yesterday, Chrysler Chairman and Chief Executive Bob Nardelli announced that the company should be able to meet its job-cutting goals without antagonizing the United Auto Workers union. However, that isn't the news that caught my eye.

Nardelli announced that Chrysler will offer a plan that will cap the price of gasoline at $2.99 per gallon for 3 years to any customer who buys or leases new vehicles from tomorrow through June 2. The offer is based on 12,000 miles of driving per year at the vehicle's rated fuel economy. So, how will this work? The customer will receive a card for purchasing gas. This card will be linked to the customer's charge account, and the customer will be charged $2.99 per gallon with Chrysler paying the rest. While actual savings depend on gas prices during the next 3 years, the article estimates that a person buying the 2008 Chrysler PT Cruiser (21 miles to the gallon in the city ) will save $355 a year (with the current average gas price pegged at $3.61 by AAA). Steven Landry, Chrysler's executive vice president for North American sales stated: "It's a way to give (customers) peace of mind ... We want to get everybody through these challenging times."