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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 choices by providing you with interactive financial calculators and tools as well as publishing informative and reliable content, by enabling users to conduct research and evaluate information for no cost to help you make sound financial decisions. Bankrate has agreements with issuers such as, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Money The offers that appear on this website are provided by companies who pay us. This compensation can affect the way and when products are featured on this site, including for instance, the sequence in which they appear within the listing categories and other categories, unless prohibited by law for our loans, mortgages, and other products for home loans. However, this compensation will not influence the information we provide, or the reviews that you see on this site. We do not cover the entire universe of businesses or financial offerings that could be available to you.

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4 min read Read Published August 14 2022

Writen by Rebecca Betterton Written by Auto Loans Reporter

Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers in navigating the ins and outs of securely borrowing money to purchase an automobile.

Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate since late 2021. They are dedicated to helping their readers feel confident to take control of their finances with precise, well-studied information that break down complex subjects into digestible pieces.

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The drivers throughout all across the U.S. have been dealing with record-high prices for gas in the last year at the pumps. However, in the past month, amid declining consumption, prices have dropped a bit which has given motorists a sense of relief. The average price for a gallon of regular gas is now $4.13, . At the start in August, the prices had been lower by just 63 cents from the same time frame. Still, the damage has been done in many ways, as gas prices remain far higher than a year ago. AAA found that many drivers have made significant lifestyle changes to help cope with the rising cost of gas, including making fewer trips to the store, taking shorter trips and limiting shopping or dining out. Here are some other strategies to cut down on gas. 5 ways to save money at the gas pump. To reduce the cost of fuel and spend less on gas, think about making some changes to your regular drive. 1. Follow the speed limit no whatever the fuel efficiency of your vehicle, staying within the speed limit can help save fuel. Your mileage will drop if you drive over 50 miles per hour. In addition to driving at the posted speed, it’s a good idea to avoid extreme brakes or acceleration — which can result in fuel consumption that is low. 2. Look around for the most affordable options Before pulling into the first gas station you pass look up the cheapest gas stations in the region. You can download apps like GasBuddy, Gas Guru and the AAA app to determine which gas stations with the lowest prices are within your. 3. Use regular gasoline options Unless your vehicle requires premium fuel, there’s no need to shell out the additional money for the top choice. Sticking with regular gasoline will cost you about $50 cents per gallon -which is a tiny amount which can quickly add to. 4. Participate in a rewards program A lot of supermarkets offer rewards to drivers who fill up at stations. Certain credit cards will also give points in the gas station. If a gas station that is traditional is more your thing, look out for rewards that are specific with the companies you favor such as the one offered by 7-Eleven. 5. Map out routes ahead of time To save money on gas and time in your vehicle, use apps like Waze to choose the most efficient route available. Also plan your route ahead of time to ensure that you don’t use up any gasoline backtracking to different regions. 6. Keep your tires at the proper pressure. If your tires are not properly inflated, they could affect your car’s fuel efficiency, which can reduce the energy efficiency. Ensuring your vehicle’s tires are properly aligned can also improve gas mileage. 7. Utilizing cruise control cruise control will allow you to maintain a steady speed which will in turn lower the amount of gas that is used. 8. Cut down on the use of air conditioners as the air conditioner drains fuel more quickly due to the power of the engine required to operate the cooling system. Other ways to save money on vehicle expenses While the expense of powering your vehicle can be costly — especially now it is made up of many aspects. But there are other ways to reduce your expenses as a driver. Keep your vehicle maintained. Keeping it current on the is a great way to prevent any unexpected issues. Make sure to have your car examined by a professional every year or two to prevent costly issues that could arise down the road. Reduce the time spent on long journeys. More miles clocked on your odometer will mean more trips to the petrol station. However, it also increases the risk for mechanical problems. If you can avoid it, it might not be the best time to plan a long road journey. It could be a good time to carpool or rely on public transportation when it is there is one available. Shop for cheaper insurance If you have been with the same insurer for more than an entire year or so it could be a good time shop around and see what alternatives are out there. Make sure you compare multiple companies to ensure that you are getting the best deal. Refinance your existing car loan You may be able to negotiate better terms and save on your monthly payments by . This is particularly applicable if you have made improvements to the credit rating of your. Compare your to see if you can save more money by refinancing. Gas price volatility is due to a combination of factors Even as prices have declined but the price for a gallon of gas remains one cent more than a year ago. In many areas it is estimated that the cost of gasoline is well above $4. California residents are still paying higher than $5.50 each gallon. The high costs the country is facing today are due in part to Russia’s attack on Ukraine and the resulting sanctions. These sanctions have caused a dramatic rise in the cost for crude oil. It is used as the primary fuel to power a variety of automobiles. When the cost of crude oil rises, so do prices at the gas pump. The bottom line When it comes to vehicle ownership expenses can mount up — and the fluctuating price tag attached to the gas pump could cause a good amount of stress. Although gas prices are out of your control, concentrate on the decisions that you have to make in order to save. Some of the changes you can make are shopping around for the lowest gas prices in your region, combining your errands and excursions when you can, and keeping your vehicle properly maintained.

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Written by Auto Loans Reporter

Rebecca Betterton is the auto loans reporter for Bankrate. She has a specialization in helping readers in navigating the details of borrowing money to purchase the car they want.

Edited by Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate from late 2021. They are passionate about helping readers gain the confidence to manage their finances through providing precise, well-researched and well-studied data that is broken down complicated topics into bite-sized pieces.

Auto loans editor

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