How to save money as gas prices continue to soar

Paying for gas has become such a pain on the wallet. Do you find your vehicle guzzling all your money? Here are some useful tips and tricks you must adapt if you want to save money on soaring gas prices this year.

save money gas
Gas prices were high during the Covid-19 pandemic, and now, following the Russia-Ukraine conflict and inflation, prices are skyrocketing more than ever before. We must look for ways to make the most of the gas in our vehicles and save money at fuel stations.

In this article

With just a few simple steps, families and businesses can save money significantly on gas prices amid the recent spike that does not seem to be dropping any time soon.

With prices crossing the $4.5 mark and continuing to rise. Here are some strategies that can help you save money even as gas prices continue to soar.

Gas price apps

Going to nearby gas stations may be convenient but more expensive than you think. Using a gas app, you will find the different gas prices in your area or your regular route. Find the cheapest gas, even if the difference is just a few cents. Never neglect to save cents whenever you can. You will be staggered to know how many dollars you have saved after finding the cheapest gas that was cheaper by a few cents. If you look for the cheapest gas around, you can save something around $10 for each fill-up and even something around $200 a year. Find the best gas app in your area and go the extra mile to find the cheaper gas.

Credit card rewards

Some factors to check to find the best card to save money on gas:

Annual fee: The annual fee charged by the credit card can make your savings meaningless. Some cards offer several rewards that might compensate for it. Find the right card that will help you save after necessary research. However, you must be aware of each reward point’s value. Sometimes, the rewards will be just some pennies or even less. Sometimes, you might be able to redeem only certain products, and you may not be interested in them.

Reward caps: Some gas savings are capped either per quarter or yearly. Analyze your spending habits and see which rewards cap will work for you.

Pump or gas station offers: Some cards offer rewards for buying anything at a gas station. Some offer rewards for pay-at-the-pump purchases only.

Membership: Memberships require periodic payments. Check if they will be suitable for you.

If you don’t pay off the entire balance, the amount you pay as interest will be more than what you have saved for gas price.

Right fuel: There is higher grade fuel available everywhere today. But practically, this fuel doesn’t benefit your car. If your owner’s manual says that the vehicle requires premium gasoline, you can consider getting it for improving performance. Suppose a higher grade of fuel is just recommended. In that case, you need to spend extra money as it will just slightly improve the performance and fuel economy or may not have any difference at all. 

Payment method

Some gas stations reduce the price of fuel if you pay in cash and debit card and not a credit card. In such places, use the payment method that will save you money.

For a debit card, you must make sure to claim the discount before you start pumping. Debit card transactions are not secure compared to a credit card, as anyone can make transactions if they find out your PIN. 

Warehouse clubs

The gas prices at warehouse clubs are always less. However, you would have to pay a membership fee. For more tips on how to get free gas next time you’re at the pump.

This page is purely informational. Line does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

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