KYRA PHILLIPS, CNN ANCHOR: If rising gasoline prices are enough to drive you crazy, you may want to get on the information superhighway. CNN's Steve Young reports on a new option online.</s>STEVE YOUNG, CNN CORRESPONDENT (voice-over): Priceline's lucky break could be the oil cartel price squeeze that has motorists fuming. The Web site said it will add gasoline to its line of products for which consumers can name your own price starting in May. The system will work at 160,000 major brand gas stations. Consumers will bid from their PCs, then, using Priceline credit cards, tank up and save 10 to 20 cents a gallon, and Priceline is telling the gas stations this will help them steal business from the no-name gas stations.</s>JAY WALKER, CEO, PRICELINE.COM: You want the business that the no-name companies got, so everybody wants new business, plus the gas stations also want your convenience store business and your car wash business and your service business. So, if they can discount a few cents privately for the gas, they're happy to make the money on the other side.</s>YOUNG: But don't credit Priceline with amazing timing on its discount gas price scheme. It's so technologically complicated, it's been in the works for a year. Priceline just got lucky that a cold winter and tight petroleum supplies drove prices higher. (on camera): Priceline expects five million gasoline customers in the first two years. It will get a small piece of profits but says what it really wants is all that Web traffic and a chance to drive customers to other Priceline deals. Steve Young, CNN Financial News, New York.
Priceline.com's Gasoline Haggling Scheme Finds Lucky Timing