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Gas prices are likely to continue climbing through 2022: Here’s how to save at the pump Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our aim is to assist you make better financial decisions by offering you financial calculators and interactive tools as well as publishing informative and reliable content. This allows users to conduct research and compare information for free to help you make informed financial decisions. Bankrate has partnerships with issuers including, but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The offers that appear on this website are provided by companies that pay us. This compensation could affect how and where products appear on this site, including such things as the order in which they may appear within the listing categories in the event that they are not permitted by law. This applies to our loans, mortgages,, and other home lending products. However, this compensation will affect the content we publish or the reviews you see on this site. We do not cover the entire universe of businesses or financial deals that may be available to you.
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4 min read Published August 14 2022
Authored by Rebecca Betterton Written by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She has a specialization in helping readers to navigate the ins and outs of securely borrowing money to purchase a car.
Edited by Rhys Subitch Edited by Auto loans editor
Rhys has been writing and editing for Bankrate since the end of 2021. They are passionate about helping readers feel confident to control their finances by providing clear, well-researched information that breaks down otherwise complicated topics into bite-sized pieces.
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People throughout all across the U.S. have been dealing with record high gas prices in the last year at the pumps. However, over the last month, with a declining demand, prices have begun to drop somewhat, giving drivers a bit of relief. The cost of a gallon of regular fuel is down to $4.13, . At the start in August, the prices had been lower by 63 cents over a month earlier. Still, the damage has been done in many ways, and gas prices remain far higher than they were a year ago. AAA discovered that many motorists have made substantial lifestyle changes to help cope with higher gas costs, including driving less, combining errands and limiting shopping or dining out. Here are some additional ways to save money on gas. 5 methods to save money at the gas pump. If you want to save money on fuel and spend less at the pump, you should consider making a few adjustments to your normal drive. 1. Drive the speed limit No regardless of the efficiency of your vehicle, staying within the speed limit will help conserve fuel. Your gas mileage will decrease if you drive over 50 mph. Along with driving the posted speed it’s best to stay clear of extreme brakes or acceleration — that can lead to lower gas mileage. 2. Look around for the most affordable options Before pulling into the first gas station you pass, research the lowest-priced options in the area. You can download apps such as GasBuddy, Gas Guru and the AAA app to see where the lowest gas prices are within your. 3. Stick with regular gas options If your vehicle doesn’t require premium gasoline, there is no need to dole out the additional money to purchase the most expensive option. Sticking to regular gasoline will cost you about $50 cents per gallonwhich is a tiny amount which can quickly add to. 4. Join a rewards programme Many grocery stores offer that reward drivers for filling up at stations. Certain credit cards will also give points when you fill up at the pumps. If a traditional gas station is your preference then look for rewards programs that are specifically tailored for the brand you prefer, such as the ones offered by 7-Eleven. 5. Plan your routes ahead of time To reduce the cost of gas and time in your car, you can use apps such as Waze to take your most effective route available. Also plan your route in advance to ensure you aren’t wasting fuel by retracing your route to other areas. 6. Make sure you have the correct tire pressure. If your tires are under-inflated they can affect your vehicle’s gas mileage, which could reduce efficiency of your fuel. Insuring that your tires are aligned correctly can help improve the gas mileage of your vehicle. 7. Use cruise control Driving with cruise control will help you maintain a constant speed, which will in turn reduce the amount of gas consumed. 8. Use less air conditioning the air conditioner consumes gas faster due to the engine power required to run its cooling mechanism. Other ways to save money on vehicle costs While it’s true that the power used to run your car can be quite expensive — particularly in recent times it is comprised of a variety of aspects. And there are still other methods to reduce your expenses as a driver. Maintain your vehicle Keeping current on the will help you to avoid any unforeseen issues. It is recommended to have your vehicle checked by a professional few times a year to prevent costly issues likely to arise down the road. Make sure you reduce the length of your trips. With more miles on your odometer means frequent trips to the gas station — but it also opens the door for mechanical issues. If you can avoid it, now isn’t the best time to embark on a long trip. It could be a good time to share a car or use public transportation when it is there is one available. Look for insurance that is less expensive if you’ve been with the same insurer for more than an entire year or so it could be a good time to look around and find out what other options are available. You should compare quotes from several providers to ensure you are receiving the best price. Refinance your current vehicle loan You might be able to get better terms and save on your monthly payment by . This is especially relevant if you’ve improved you credit scores. Examine your credit report to see whether you could save cash by refinancing. Gas price volatility is due to a variety of elements. Even though prices have slowed, the average cost for one gallon of gasoline remains one cent more than a year ago. And in many regions, the cost for gasoline remains well above $4. California residents are still paying more than $5.50 for a gallon. The high costs the country is facing today are due in part to the Russian attack on Ukraine and subsequent sanctions. These sanctions have caused an astronomical increase in the cost for crude oil. It serves as the primary fuel to power a variety of vehicles. As the price of crude oil increases as do costs at the gas station. The bottom line when it comes to vehicle ownership, costs can add up — and the fluctuating cost associated with the gas pump can create a huge deal of frustration. While the cost of gas is out the control of you, you can focus on the decisions you can make to save. A few of the adjustments you can make include looking around for the cheapest gas prices in your area as well as combining your shopping and excursions when you can, and keeping your vehicle properly maintained.
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Authored by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers to navigate the ways and pitfalls of borrowing money to purchase a car.
The edit was done by Rhys Subitch Edited by Auto loans editor
Rhys has been writing and editing for Bankrate since late 2021. They are passionate about helping readers gain the confidence to take control of their finances by providing concise, well-researched, and clear data that is broken down otherwise complicated subjects into digestible pieces.
Auto loans editor
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