The price of gas is rising. How to save at the pump

Don’t be surprised if filling your car’s pump tank continues to swallow up some of your budget.

Against the already rising price of gasoline, the average price you pay per gallon could jump in the next few weeks, according to GasBuddy.com.

In addition to high crude oil prices – which account for more than half the price of gas – as demand recovers from a pandemic-induced decline and production remains lower, millions of barrels of refining capacity are now offline due to extreme cold in the lower half of the US

“Much of the projected increase in gas prices will take place in the coming days,” said Patrick De Haan, head of oil analysis at GasBuddy.

The current national average for a gallon of ordinary lead is $ 2.58 and could soon reach between $ 2.65 and $ 2.75. That would put about $ 1 over $ 1.74, calculated in April 2020, amid declining demand as the pandemic escalated.

In addition, the cost per gallon tends to increase in the spring, as demand increases and stations switch to cleaner, greener gas for the summer.

More from personal finance:
This is when the IRS could file your tax return
How To Get One Of The Best Jobs In America
Unemployment fraud can create night taxes

There are ways to save money on gasoline – beyond things like speed limits and avoiding aggressive driving – which could translate into hundreds of dollars a year.

For starters, go shopping. Depending on where you live, there may be large price variations between gas stations. And even if the price difference per gallon can be only a few pennies, it still adds up.

“Too many drivers just get to the nearest pump and end up paying in excess,” De Haan said.

There can also be significant price differences from one state to another. For example, an Arizona gas station is $ 1 less than a competitor on the California state line, De Haan said. (California tax per gallon is 82 cents and Arizona is 37 cents.)

In addition, there are apps – including GasBuddy, Gas Guru and AAA TripTik – that you can use to find the best prices along the route.

It is also worth looking at the loyalty programs that many important chains have. In general, they are free and can offer cents per gallon, De Haan said.

However, credit cards that offer discounts on gas purchases may not be the best option, unless you usually pay your card balance.

“If you don’t pay the bill, you end up giving the bank more money than the discount is worth,” De Haan said. “Cards work if you pay for them, but not if you carry the balance month by month.”