Every time my gas light comes on, I cringe. Because I know that I’m about to shell out at least $50. Can you believe that gas prices have risen more than 40 cents since January? It’s sickening, and it’s only going to continue to rise. ConsumerReports.org estimates that the national average will hit $4 by May. With the way I’ve seen the prices rise in the last two weeks, I’m thinking it’ll be sooner than that.
As of today, the average gas price in Texas is 3.834 with a national average of 3.897. At least we’re still sitting below the national average, right? I’ll bet the Chevy Volt is looking pretty good to most of you right now. Unfortunately, many of us can’t afford to run out and buy a new, fuel-efficient or electric vehicle. We could always drive less, but again that’s not an option for everyone. MoneyMorning.com published a great article on March 29 sharing the only real ways we can save some cash at the pump. Hope this helps, Dallas Ft Worth Chevrolet lovers!
- Grocery discounts — Many big supermarket chains reward your purchases with discounts at the pump. Publix Supermarkets Inc. (PINK: PUSH) recently offered a $10 gas coupon for every $25 of groceries purchased. That could save you as much as $1.50 a gallon.
- Gas company loyalty cards — If you usually buy gas from a major national chain, apply for a loyalty card like the BP Visa Card. You get a 5% rebate on all gas purchased at BP plc (ADR NYSE: BP) stations. Shell, Exxon Mobil (NYSE: XOM) and others offer similar deals. Savings – 7 to 10 cents a gallon.
- Rewards cards — If you don’t want to limit your purchases to one brand, sign up for a credit card that offer rewards for filling up at any station. Chase Freedom offers $200 cash back after you make $500 in purchases in your first three months, 5% cash back on gas during certain periods and 1% cash back on all other purchases.
- Pay cash — If you don’t want to apply for a new credit card, try paying with boring old cash. Many service stations will reward you with a 10-cent-per-gallon discount.
- Shop Around - Make sure you’re getting the cheapest gas in your area. A recent check of GasBuddy.com for the New York City area showed $3.89 for the best price and $4.69 for the worst — a difference of 80 cents a gallon.
Thanks to Cassidy Schafer for contributing.