GM promotion will cap gas at $1.99 a gallon for SUV buyers

In a promotion that begins today, General Motors promised to cap gasoline prices at $1.99 a gallon for a year for customers in California and Florida who purchase certain new full-size SUVs or midsize cars. That’s right: if you buy a gas-guzzler from GM, they’ll help pay for the gas. The refund amount for buyers will be based on estimated fuel use and the difference between $1.99 and the average state-wide price per gallon. Eligible SUVs in California include the Chevrolet Tahoe, Chevrolet Suburban, GMC Yukon, and Hummer H2 and H3. One analyst estimates savings at about $1,000 per vehicle. “Consumers are uncertain about gas prices, and this gives them some certainty about what they’re going to pay,” says GM’s market analyst, adding, “Please, please, for the love of God, buy big American cars! We’re dying over here!” Or maybe that last bit was just implied.