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Save on the high price of gas

By Paula Pant · Bankrate.com
Monday, January 13, 2014
Posted: 11 am ET

The price of gasoline has spiked in recent years. When I was in high school, gas cost less than $2 per gallon. (Am I revealing my age?) These days, I feel lucky when I spot gas for less than $3.50.

Throughout 2013, the national average retail price for self-serve, regular-grade gasoline ranged between $3.20 per gallon to $3.72 per gallon, according to AAA's Daily Fuel Gauge Report, which surveys 120,000 gas stations across the country.

Meanwhile, the average American drives 13,476 miles every year, according to the U.S. Federal Highway Administration. Assuming drivers get 28 miles per gallon, they're buying 481 gallons of gasoline per year -- at a cost of roughly between $1,500 and $1,800 annually.

That's a lot of money spent, and it can wreck your budget. How can you save on the high cost of gasoline? Here are a few tips.

Buy gift cards. Go to sites such as Plastic Jungle or Gift Card Granny and buy a discounted gift card for a gasoline station. These sites sometimes sell cards from major companies like Shell and BP.

Use gas reward cards. Some companies offer credit cards with gas rewards, but I recommend skipping those credit cards and their high interest rates. Instead, use a reward card from a grocery store. Kroger, Winn-Dixie and Safeway are among the many grocery stores that offer gas reward points to their customers.

Fill up on the cheapest days. Track gas prices in your neighborhood and fill up on days when the cost is likely to be lower. You likely will find the cheapest prices on Wednesday and Thursday mornings before 10 a.m., according to Chris Faulkner, the CEO of Breitling Oil and Gas. He made the comment in an interview with Forbes magazine. Try to avoid high weekend prices.

Use smartphone apps. Helpful apps like GasBuddy or AAATriptik list the lowest gas prices in the area. Use these apps to get great deals on gas and avoid overpriced stations.

Pay cash. Some gas stations charge a premium for using credit cards to pay for gas. Skip that extra charge by paying in cash instead. You could see savings as high as 5 cents per gallon, according to Forbes.

Paula Pant helps people ditch the cubicle and live on their own terms. She's traveled to 30 countries, owns six rental property units and hasn't had an employer since 2008. Her blog, Afford Anything, is the gathering point for a tribe that refuses to say, "I can't afford it." Follow Paula on Twitter: @AffordAnything.

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2 Comments
Gale
January 15, 2014 at 9:24 am

Half Price Gas sometimes less all the time. I buy Shell gas cards from Publix Grocery store here in Florida for $10 off with a fifty dollar purchase of groceries. You can use Target and Winn-Dixie competitors coupons there. Enjoy the City Coupon Books has 4/$5 off $30 coupons. Fifty and forty equals ninety which is 3 coupons so an additional $15 off 40 making my gas card $25 off $50. Then I get a Shells Fuel Rewards card free at the station. Register your card and get 3 cents off whenever you fill up but sometimes a quarter off. Register your Winn-Dixie fuel perks and use them in 60 days to get even more off without having to use all 20 gallons at once. But I drive a toyota prius hybrid. Driving 1000 miles a month cost me one card. I buy extra cards and trade them for service or other gift cards

David
January 13, 2014 at 10:30 pm

go to cumberland farms and get the smart card it saves .10 cents per gallon and it comes out of you bank with no fees.

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