Ways to Save Money on Gas
Over the past couple of months, we have seen gas prices steadily increasing up with the pandemic related supply issues. Recently a war between Ukraine and Russia has further increased oil prices and whenever oil prices increase so do gas prices. Gas prices hit an all-time high in March and haves broken the previous record from 2008 set during the Great Recession. To provide comfort to your gas budget during this time of high gas prices, we have some ways to save money on gas.
Instead of a card pay with cash
When paying with card at a gas station there are fees that are included due to fees charged by banks and credit card providers for each transaction. On top of those fees the difference between cash and credit card prices usually ranges from 5 to 10 cents a gallon. To avoid paying fees that occur with using a credit card, use cash instead. Even though the debit choice can represent real “cash” in your bank account this can also incur a transaction fee, but policies vary depending on the gas station.
Gas rewards card
There are many programs that offer 3% to 5% cash back range, but it is important to check the fine print. Do some math to see if it will truly benefit you, since it may have an annual fee and you don’t want to risk accruing interest on the credit card balance if it is not paid on time. This strategy, when used responsibly, could help save a few dollars per tank.
Grocery store rewards program
See if your local grocery store offers a gas rewards program. Usually, several major grocery chains partner with gas stations to help provide a discount to members. The discount can be 10 cents or more off per gallon and some gas stations’ gas discounts depend on how much you spend. This can really benefit you if you find yourself already spending a lot at a grocery store that offers a rewards program.
Use a gas app to find the best price
Instead of going to the nearest gas station it would be even better to go to the cheapest gas station. Best way to do this without having to waste gas looking for a cheap gas station? You can use an app that will tell you where the cheapest and closest gas station is for you. As an example, both Google Maps and Waze can help by filtering the gas stations by price.
Now that we have shared some ways on saving money on gas, we hope this information will help relieve some stress on your gas budget. Please schedule a time for more information that may benefit you.