Oil Price Information Service (OPIS) has launched its own application and GPS-based service for iPhone owners. iGas helps drivers shop for the cheapest fuel by displaying the ten nearest gas stations with the prices in low-to-high order.

Oil Price Information Service specializes in supplying retail gasoline and diesel fuel pricing information. The company has sensed that an iPhone application using the phone’s GPS system to locate their position and return the ten cheapest fueling stations in the area would have great success, based on the ever-increasing price of oil. The actual prices are displayed in low-to-high order, along with the brand and address and, if a customer is planning to fill 'er up in another location, they can type in a zip code for the same results.

"The iPhone changes the game for consumers when shopping for the best prices on goods and services. The immediacy of being able to use the iPhone to perform targeted internet queries anywhere allows people to optimize their purchasing dollar," said Michael Sinsky, CIO, OPIS. Fred Rozell, Director of Retail Pricing for OPIS, added that "[iGas] sis a perfect marriage between data and technology that will allow consumers to gain more control over their fueling costs".

Using the iGas iPhone application, customers also have the option to pre-select their fuel search criteria (Regular Unleaded Gasoline, Premium Unleaded or Diesel). "With fueling costs at historically high levels, it is expected that iGas will be a popular download on the App Store," Rozell added.

iGas requires an iPhone or iPod touch running firmware 2.0 or higher. The application is available from the iTunes App Store for around four bucks. OPIS has also announced it would be updating the app to allow users to map to the station of their choice. At the time of the announcement, Rozell assured iPhone users the update would be made available within the next ten days.