On March 11, 2022 we broke a national record for the highest gas prices of all-time at $4.33/gallon. Yay us!? This is up 53% from just one year ago. Here in Illinois, we are overachieving, paying on average $4.56 across the state. But of course, California leads the pack at an impressive $5.74/gallon! The poor people in Kansas are pulling up the rear only paying $3.82/gallon.
Oh wait. I guess this is all backwards. Well done, Kansas!
There are multiple reasons why gas prices have been surging for the past 12 months. From supply restrictions, increased demand coming out of government lockdowns, and war in Ukraine. None of which we personally will have any significant influence on. However, there are some things we can do to lessen the pain these increased expenses have on our finances.
#1 Combine your errands
Instead of making several trips out with the car, make one. Cutting just a few miles per day can save hundreds of dollars in a year.
#2 Carpool
Are you and a friend or neighbor going to the same place? Why not go together?
#3 Shop around for best gas price
The closest gas station may not have the cheapest gas. Driving just another mile down the road to save 5 cents per gallon is worth it. Take advantage of online tools and apps like GasBuddy to see what local prices are before you leave the house.
Yesterday, I saw that gas prices around me were $4.59 but I needed to drive 90 minutes to Milwaukee to pick my wife up from the airport there. Wisconsin typically has cheaper gas and sure enough I was able to fill up the tank for $3.99 instead. By checking ahead, I saved over $6 on my fill-up.
#4 Take advantage of member perks
Many gas station chains have rewards programs where you can save a few cents per gallon. Perhaps an even better option are the large grocery chains that also have gas stations out front. If the store you typically shop at also has a gas option if you have their store card you could save 5 cents or more per gallon. You need to buy snacks and gas, why not save a little cash too doing both.
#5 Use Cruise Control
Yes, using the car’s cruise control typically gives you better fuel efficiency. Check this article out to learn more.
By implementing all five of these ideas you can easily save hundreds if not thousands of dollars annually.