The price of gas is climbing higher. How to save on the pump

Do not be surprised if you keep the tank of your car at the pump, keep eating a growing portion of your budget.

Amid already rising petrol prices, the average price you pay per liter could rise over the next few weeks, according to GasBuddy.com.

In addition to rising crude oil prices – which account for more than half the gas price – as demand recovers from a pandemic-induced decline and production remains lower, millions of barrels of refining capacity are now offline due to extreme cold in the lower half of the usa

“A large part of the expected rise in gas prices is likely to play out in the coming days,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

The current national average for a liter of ordinary lead-free is $ 2.58 and may soon be between $ 2.65 and $ 2.75. That would put it about $ 1 above the $ 1.74 reached in April 2020, amid the shrinking demand as the pandemic takes hold.

In addition, the cost per liter also tends to rise in the spring as demand increases and stations switch to cleaner and more environmentally friendly gas for the summer.

More from Personal Finance:
This is when the IRS may mark your tax return
How To Get One Of The Best Jobs In America
Unemployment fraud can cause tax nightmare

There are ways to save money on fuel – other than sticking to the speed limit and avoiding aggressive driving – that 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 filling stations. And even if the price per liter is just a few cents, it is still a contribution.

“Too many motorists just pull up to the nearest pump and end up with too many,” said De Haan.

There can also be strong differences in the price from country to country. One gas station in Arizona, for example, is $ 1 less than a competitor on the California state line, De Haan said. (California’s tax per liter is 82 cents and Arizona 37 cents.)

There are also programs – including GasBuddy, Gas Guru and AAA TripTik – with which you can find the best prices on your route.

It is also worth exploring loyalty programs, which have very large chains. They are usually free and can offer cents per liter discount, De Haan said.

However, credit card rebates for gas purchases may not be the best option unless you pay the card balance regularly.

“If you do not pay off your account, you will end up giving the bank more money than the discount is worth,” said De Haan. “The cards work if you pay them off, but not if you carry the balance month to month.”