Gas prices have moderated from the record-shattering summer of 2022.
Still, the cost of gas remains high and is a major expense for many Americans. And with prices for just about everything else continuing to creep up due to inflation, cutting costs is becoming essential for many.
While you may not be able to cut out the cost of gas from your budget, there are several strategies you can implement in your everyday routine to help you save money.
Table of contents:
From driving strategies to vehicle upkeep and more, here are several easy ways to save money on gas. (Don’t worry. None of them involve buying a new car, which is good because those prices are also astronomical right now.)
Next time you’re checking the big gas station billboards for prices, look closely. The lowest price you see is likely a cash-only price. In some cases, you might not even see any mention of a cash-only price at all, as the discount is implied. You may only find out after swiping your card and noticing you paid several cents higher than the price on the sign.
The difference between cash and credit card prices for gas typically ranges 5 to 10 cents per gallon, but in some cases, it can be much more. The reason gas stations often charge more for card purchases is because they get charged fees by banks and credit card providers for each transaction. When you pay cash, the gas station avoids these fees, and they pass along some of the savings to you with a discount.
Debit purchases, even though they represent real “cash” in your bank account, may also incur a transaction fee. Policies vary by gas station, so check with your local clerk if you’re unsure about using your debit card.
Cash back on gas is one of the best credit card rewards.
For example, with the Sam’s Club Mastercard, you can earn 5% cash back at the gas pump (for your first year or up to $6,000 spent, whichever is first). Similarly, the American Express’s Blue Cash Preferred card offers unlimited 3% cash back on gas purchases (as well as public transit, rideshare and other related purchases). Many other programs fall within that 3% to 5% cash back range, sometimes on a revolving basis.
Always check the fine print and do the math to see if the rewards program is truly worth it in your individual case. As mentioned above, many gas stations set higher prices for credit card purchases. Likewise, the rewards credit card itself may have an annual fee. And there’s always the risk of accruing interest on your credit card balance if you don’t pay it off on time.
When used responsibly, this strategy could save you a few dollars per tank, so it’s worth considering — especially if you don’t always have cash on hand.
Check to see if your local grocery store has a gas rewards program.
Several major grocery chains partner with gas stations to offer members a nice discount at the pump, frequently 10 cents or more off per gallon. For example, Kroger, Safeway, Stop & Shop and many other grocers offer gas discounts if you spend a certain amount of money at their store after signing up for the rewards program.
The programs often work similarly: For every $50 to $100 spent at the grocery store, you might earn a fuel discount of 5 cents to 10 cents at a partner gas station.
If you're already spending that much at a grocer that offers a rewards program, this strategy could be a no-brainer. But be mindful of going out of your way to join a rewards program from a far away or more expensive grocer just to earn a gas discount.
It should come as no surprise that gas prices fluctuate day to day, but pricing trends show that a couple days in particular each week tend to be cheaper than others.
Monday and Sunday are the two cheapest days, according to GasBuddy, a tech company that tracks the real-time prices of gas at more than 150,000 stations across the country.
Additionally, Friday, which has traditionally been a more expensive day, is also becoming a more affordable day to fill up. Wednesday and Thursday are the most expensive.
Keep in mind, though, that these recommendations are based on national data trends from prior years, and these days might not always be the cheapest in your area on any given week. Use your best judgment.
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See RatesInstead of driving around town to look for the cheapest gas (all while wasting time and burning fuel), you should consider using a gas app to compare prices.
GasBuddy is one of the most popular apps that’s fully dedicated to comparing nearby gas prices. But you can also scope out how much gas stations are charging with some navigation apps as well. For example, with both Google Maps and Waze, you can select a gas station as your destination and filter them by price.
Abiding by the speed limit, accelerating slowly and coasting more are not only safer ways to drive, but they’re also extremely cost-efficient driving habits.
So the next time you approach a red light, don’t accelerate and brake hard right at the line. Lay off the gas pedal and coast your way to a halt. When it turns green, resist the urge to gun it.
According to FuelEconomy.gov, these safe-driving methods can boost your fuel efficiency by up to 40% depending on the speed and how frequently you stop and go. At highway speeds, your fuel efficiency jumps 15% to 30%, whereas in stop-and-go traffic, it ranges widely between 10% to 40%.
Assuming that fuel prices are about $3.50 in your area, that translates to a whopping savings rate of 30 cents to $1.40 per gallon.
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View RatesThe federal government says idling can drain a quarter-gallon to a half-gallon of gas per hour.
If you’re in an exceptionally long line or waiting for someone to hop in, cutting your engine is the fuel-efficient move to make.
Depending on your engine size and your AC or heater habits, choosing to turn off your engine instead of idling could save you up to 3 cents per minute, according to federal government estimates.
When it comes to driving, proper planning can really pay off. Consider this strategy a catch-all for figuring out when, where and how you’re going to drive.
Important questions to consider when planning out your trips include:
If you answered yes to even one of these questions, creating a plan around it and sticking to it can have a major impact on the amount of gas you use.
According to the U.S Department of Energy and the U.S. Environmental Protection Agency, combining trips could double your fuel economy when compared to taking multiple short drives because your car gets better gas mileage when it is warmed up.
Likewise, carpooling can cut your weekly fuel costs in half by saving on gas expenses all while reducing wear-and-tear on your vehicle, the agencies say.
Cruise control can boost your fuel savings when used properly, but it’s not always a sure-fire gas saver.
If you have long commutes or road trips with relatively uninterrupted miles of driving, cruise control can save gas. You can simply choose the speed that is most fuel efficient for your car while on the highway to reduce the urge to drive at inconsistent speeds that drain your gas quicker.
It should go without saying that cruise control is not an effective method in stop-and-go situations, especially off the freeway.
Warm weather is a blessing and a curse when it comes to saving on gas.
One one hand, the heat can help your engine warm up quicker, thus improving fuel economy. Adding to that, the federal government also says warm air causes “less aerodynamic drag” than cold air.
On the other hand, using air-conditioning in hot weather can reduce fuel efficiency by 25%, especially during short trips. This is one of the single biggest contributors to gas guzzling.
The double whammy: Driving with your windows down might also waste gas because it increases your vehicle's wind resistance.
So what should you do? Here are some tips from the feds:
Even your parking habits can affect how much you ultimately spend on gas.
For folks in hot and cold environments, where you store your car plays into your vehicle’s fuel efficiency.
Driving with a cold engine can reduce your gas mileage between 15% and 24%, according to fuel-efficiency tests. Parking your car in a garage, as opposed to right on the street during cold weather, can keep your engine temperatures higher.
In hot environments, parking in the shade can reduce how hot your cabin gets and help you resist the urge to blast the AC.
And no matter the environment: When you’re arriving at your destination, grab the first parking space you see. Don’t circle the grocery store looking for the perfect parking spot. According to a report from Inrix, a transportation analytics company, Americans spend 17 hours per year on average searching for parking. That’s a lot of wasted gas.
A rule of thumb: the heavier your vehicle, the more gas it guzzles. That also goes for what you’re storing or hauling. If there are removable items, like sporting equipment or storage bins, you should consider taking them out of the car unless you specifically need them for your trip.
According to the federal government, your fuel efficiency drops 1% for every 100 pounds of excess weight.
This also goes for racks or storage on the top or back of your vehicle. If you leave your canoe or bike strapped to your car, not only is it weighing your vehicle down, the vehicle is also less aerodynamic.
While it might seem trivial, tire pressure affects your gas mileage.
The Department of Transportation estimates that for every 1 PSI your tires are underinflated, you lose 0.2% fuel economy. That may not sound like much, but considering tire PSIs can vary widely, you could be losing notable gas mileage if you’re not paying attention to your tires.
Assuming gas prices are about $3.50 in your area, keeping your tires properly inflated could save you between 2 cents and 10 cents per gallon.
Your gas mileage is heavily dependent on how well your engine is maintained.
Engine troubles affect fuel economy by an average of 4%, according to a report by the consulting firm Energy and Environmental Analysis. If that wasn’t reason enough to keep an eye on your check-engine light, more serious engine problems could affect mileage by as much as 40%.
Gas savings aside, keeping your engine in good shape will also help your vehicle last longer and avoid the need for costly repairs.
One easy maintenance tip: Ensure you’re using the correct grade of motor oil. Check your owner’s manual to see what your manufacturer recommends and start using that version if you’re not already. Based on $3.50 gas prices, this maintenance move alone could save you 4 cents to 7 cents a gallon.
While you’re thumbing through the manual, verify what type of fuel is recommended for your vehicle and stick to that. Most cars only need regular unleaded fuel and will not benefit from premium gas, which is typically much more expensive.
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Cruise control may help save on gas if used properly. To get a gas boost out of cruise control, set your speed to one that's fuel efficient for your car during trips on the highway, ideally across flat terrain.
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Yes, using "eco mode" can save gas if your car has this feature. That's why it was created. Manufacturers often say it improves mileage by 5%. Depending on your vehicle's make and model, eco mode throttles your vehicle's ability to accelerate, reduces AC features and may also affect transmission or steering.
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In certain cases, driving slower can reduce fuel consumption, but it's not a universal rule. What most helps you save on gas is avoiding aggressive driving in general, such as rapidly accelerating and frequently braking. As mentioned above, driving more patiently can boost gas mileage by 10% to 40%.
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Generally speaking, auto-stop technology can improve a vehicle's gas mileage. This technology cuts your engine when it's not moving, usually within a few seconds. Once you lift your foot off the brake, the car automatically starts again. This cuts down on idle time, which is a major gas guzzler. Automotive research firm Edmunds says auto-stop tech can improve mileage by 3% to as much as 12%.
So far this year, average gas prices have been hovering around $3.50 nationwide, which is back where they were in early 2022 before Russia invaded Ukraine.
As Russia is a major oil producer, its invasion of Ukraine sent global oil markets into disarray. Subsequently, in June 2022, the average price of a gallon of gas hit an all-time high of $5.02, according to AAA data.
But since then, oil prices have largely been on the decline. Demand — and prices — for gas typically tick up in the spring, but the fears of a recession have so far kept oil prices in line, sparing drivers from the seasonal price hike.
The U.S. Energy Information Administration (EIA) says that the retail price of gas consists of four main factors: crude oil costs, oil refining costs, distribution and marketing costs, and taxes.
Of the price you pay at the pump, the EIA says as much as 56% goes toward the wholesale cost of crude oil, and that key factor is what has been fluctuating so much recently.
When it comes to cutting fuel expenses, an important thing to remember is that the best money-saving techniques aren’t just about finding the cheapest gas in town. What’s also important are your driving habits and how well you take care of your vehicle.
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When it comes to gas prices, we’re all feeling the crunch. Fortunately, you can fight back by being a bit more strategic about when, where and how you fill ’er up. While many of us know some of the basics of good fuel economy—like keeping your tires properly inflated, staying up on car maintenance, ditching excess cargo—adopting these lesser-known gas- (and cash-) saving strategies won’t hurt.
Wednesday is typically the best day to fill up for less, says automotive expert Lauren Fix. “Prices tend to rise on Thursdays in anticipation of weekend travel,” she explains. In fact, a recent study by the St. Louis Federal Reserve found that refueling on a Tuesday or Wednesday instead of the weekend saved 8 cents to 9 cents a gallon—saving you more than $60 per year. It also pays to fill up early. “Station owners tend to hike prices after 9 a.m. or so, once they’ve had time to check the competition.”
That extra squeeze may round out your purchase price, but it’s also likely to splash out or evaporate, along with your hard-earned cash, notes Fix. Stop pumping when you hear the first click. Remember to screw the gas cap back until it clicks, too, so none of your fuel escapes as fumes. “About 17 percent of vehicles on the road have loose, damaged or missing gas caps, causing 147 million gallons of gas to vaporize every year,” says Fix.
Most of us use plastic at the pump, but carrying cash can save you as much as 10 cents to 15 cents a gallon, says GasBuddy. (Some stations charge less when you pay cash because they save on credit card fees.)
If you must charge it, consider getting a card that rewards you for buying gas. Meanwhile, see if the station you visit the most offers a rewards or loyalty card. Some grocery store loyalty programs also offer gas rewards—you earn points buying groceries, then redeem for gas. Or check out gift-card resale sites. You may be able to score a gas card worth say $100 for $90, yielding $10 in free gas.
Whether you’re picking up a slowpoke or waiting at the drive-through, turn off the engine if your wait is longer than 10 seconds. Idling drains your tank by a quarter- to a half-gallon of fuel per hour, whereas restarting only sips 10 seconds worth of gas, according to the U.S. Department of Energy. Even in winter, there’s no need to sit in your driveway “warming up” the engine. Most manufacturers recommend driving off gently after half a minute.
No more wasting fuel driving around in search of the lowest price. Log on to GEICO’s gas station locator before you leave to pinpoint the best deals along your route, or access it on the go from the GEICO Mobile app to see real-time prices nearby.
Want to cut the cost of car ownership even more? Find out how much cash you could stash just by getting a cheaper car insurance policy. Get a fast free auto insurance quote from GEICO.
Read more: 5 Ways to Increase Your Mileage
By Julia Califano
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