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Don’t be surprised if filling the car tank at the pump continues to engulf a growing portion of your budget.
Amid already rising gasoline prices, the average price you pay per gallon could rise over 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 fall and production remains lower, millions of barrels of refining capacity are out of line due to extreme cold in the lower half of the US
“Much of the projected rise in gas prices is likely in the coming days,” said Patrick De Haan, head of oil analysis at GasBuddy.
The current national average for a regular gallon of lead is $ 2.58 and could soon reach between $ 2.65 and $ 2.75. That would be about $ 1 above the $ 1.74 recorded in April 2020 amid falling demand as the pandemic consolidated.
In addition, the cost per gallon also tends to increase 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 money on gasoline, beyond observing the speed limit and avoiding aggressive driving, which can translate into hundreds of dollars a year.
To get started, shop around. Depending on where you live, there can be large price fluctuations between gas stations. And even if the price difference per gallon can only be a few cents, it still adds up.
“There are too many motorists who get to the nearest bomb and end up paying too much,” De Haan said.
There can also be strong price differences from one state to another. For example, a gas station in Arizona costs $ 1 less than a competitor on the California state line, De Haan said. (The California tax applied 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 your route.
There are too many drivers who approach the nearest pump and end up paying too much.
Patrick De Haan
Head of Oil Analysis at GasBuddy
It is also worth examining loyalty programs that have many major chains. They are generally free and can offer discounts per gallon, De Haan said.
However, credit cards that offer discounts on gasoline purchases may not be the best option unless you pay your card balance on a regular basis.
“If you don’t pay your bill, you’ll end up giving the bank more money than the discount is worth,” De Haan said. “Cards work if you pay for it, but not if you carry the balance month by month.”