The value of gasoline rises. This protects you cash on the pump
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Don’t be surprised if filling up your car tank by the pump is consuming a growing chunk of your budget.
With gasoline prices already rising, the average price you pay per gallon could rise in the next few weeks, according to GasBuddy.com.
In addition to the increased prices for crude oil – which is more than half the price of gas – as demand recovers from a pandemic-induced decline and production remains low, millions of barrels of low-end refining capacity is now off-half due to extreme cold below of the USA
“Much of the forecast increase in gas prices is likely to have an impact in the coming days,” said Patrick De Haan, Head of Oil Analysis at GasBuddy.
The current national average for a gallon of regular unleaded product is $ 2.58 and could soon be between $ 2.65 and $ 2.75. That would put it about $ 1 above the $ 1.74 counted in April 2020 amid falling demand in the wake of the pandemic.
Additionally, the cost per gallon tends to rise in the spring as demand increases and stations switch to cleaner, greener gas for the summer.
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There are ways to save gas – beyond sticking to the speed limit and avoiding aggressive driving – which could translate into hundreds of dollars a year.
Shop to start with. Depending on where you live, there can be strong price fluctuations between gas stations. And even if the price difference per gallon is only a few cents, it still adds up.
“Too many drivers just drive to the next pump and end up paying too much,” said De Haan.
There can also be large price differences from one state to the next. For example, a gas station in Arizona is $ 1 less than a competitor on the California state line, De Haan said. (California’s tax per gallon is 82 cents and Arizona’s 37 cents.)
Plus, there are apps – including GasBuddy, Gas Guru, and AAA TripTik – that can help you find the best prices on your route.
Too many drivers simply drive to the next pump and end up paying too much.
Patrick De Haan
Head of Oil Analysis at GasBuddy
It is also worth looking into loyalty programs that many large chains have. They’re generally free and can offer penny-per-gallon discounts, De Haan said.
However, credit cards that offer discounts on gas purchases may not be the best option unless you routinely pay off the balance on the card.
“If you don’t pay your bill, you end up giving the bank more money than the discount is worth,” said De Haan. “The cards work when you cash them out, but not when you carry the balance with you from month to month.”