Tricks for finding cheaper gasoline
Going on the right day can save you dough.
Fuel is expensive, but the tricks travelers use to find the cheapest gas have remained constant for years. They include favorite apps such as GasBuddy, plus common-sense strategies like avoiding service stations on busy highways.
But as energy prices edged higher this summer, many motorists wondered: Is that it? Are there any new ways to fill up for less?
As a matter of fact, there are. For example, did you know the day of the week may determine whether you get the cheapest gas? Now, more than ever, grocery store memberships and payment methods are also important to shave a few pennies, or dollars, off your rising fuel bill.
This is no trivial matter if you’re on the road. A new consumer survey by Market Force Information, a retail consulting firm, found 73 percent of respondents said gas prices determine where they stop along the highway or continue to a cheaper location.
❚ Timing is everything: You probably already know that gas prices rise and fall based on demand. GasBuddy publishes a historical chart that updates every day on its site so that you can see the fluctuating rates. This summer, during the height of driving season, gas prices hovered near $3 a gallon.
But did you know gas prices vary by day even at a single location? Maybe you’ve seen the varying prices on the gas station billboards as you drive by. I know I have. Experts say you can time your gas purchases to take advantage of these swings.
“Many gas stations raise their prices on Thursday afternoons in anticipation of long weekend road trips,” says Marc Diana, CEO of MoneyTips, a financial advice site. “Beat the rush and save money by heading out earlier in the week instead.”
You can also wait for prices to fall, as they usually do after periods of high demand. But that kind of maneuvering can be counterproductive, say veteran travelers such as Darius Nabors, who works for a university in Charlottesville, Virginia. Nabors spent more than a year exploring America’s national parks. On longer drives, he sometimes had to wait an extra 20 to 30 miles to save 10 cents a gallon on gas. It also meant he had to plan ahead so he didn’t run out of fuel.
“Quite frequently I wanted to spend less time looking for gas and more time driving so that I could get to my next location,” he says. In other words, don’t obsess about timing gas prices – you could waste valuable time.
❚ Membership has its privileges: Warehouse clubs are another oftenoverlooked source of gas price savings. Gas stations operated by BJ’s, Costco and Sam’s Club offer savings of several cents per gallon. And unlike some of the merchandise in the stores, which have to be purchased in bulk, you can buy as little or much fuel as you like.
“In my experience, Costco is typically up to 10-cents-per-gallon cheaper, plus they pay you a percentage back on all of your purchases at the end of the year, including gas,” says Jeff White, a financial analyst for FitSmallBusiness.com.
❚ Choose the right credit card: “If you’re going to pay for gas, you might as well use a credit card that gives you cash back for those gas purchases,” says Janet Alvarez, an editor for Wise Bread, a personal finance site.
Christopher Elliott is a consumer advocate. Contact him at chris@ elliott.org or visit elliott.org.