How to Save on Gas

Two things are inevitable in life: death and taxes - but paying for gas kind of feels like that. While inflation is a gradual increase in the price level of goods and services, fuel prices can swing dramatically.

The cost of gas and its volatility is due to global oil markets, geopolitical events, supply chain disruptions, and seasonal demand - which is our way of saying you have little control over the price.

Whether you fill up for 5 days in the office or are gearing up for a road trip, there’s some clever ways to ease the pain. Looking for ways to save on gas? Wealth Elf has you covered on ways to save at the pump.

First before loyalty programs and credit card incentives, you can drive more efficiently which helps your budget. By avoiding “jerky” driving (rapid breaking and acceleration) you’ll be able to improve your fuel efficiency. Studies show that driving around 60 MPH is when your fuel economy peaks - so take it easy.

Another way to save on gas is to turn off the engine if you’ll be stopped for over a minute. So that annoying feature on your vehicle that turns the car off and makes you think you broke down? It’s actually helping you.

When you go to the mechanic for regular tune ups replace air filters and spark plugs as needed. A well-maintained engine runs more efficiently which sometimes makes the case for premium gasoline which keeps your engine cleaner for better gas mileage and engine efficiency.

Overall you can also reduce the weight in your vehicle which taxes your fuels’ efficiency. We’re not saying kick people out of the car … but do what you gotta do like remove roof racks when not in use or empty the truck if there’s unnecessary items building up.

Outside of planning ahead to combine trips and avoid traffic jams - we love to use gas rewards programs offered by oil brands themselves or grocery stores.

While oil companies may often offer superior gasoline due to the additives and friction modifiers in their product - the grocery store brand gasoline should be just fine for your everyday vehicle. Check out Exxon Mobil Rewards+, The Fuel Rewards at Shell or Earnify

from BP for qualified “top tier” fuel in your neighborhood. Another solution is apps that show you the cheapest gas in the area like GasBuddy.

Several credit cards also offer substantial cash back and rewards. Check out Blue Cash Preferred® Card from American Express which offers 3% cash back at U.S. gas stations with an annual fee of $95 (first year waived sometimes) you’ll easily make up that amount in a few months.

The Citi Custom Cash® Card lucratively offers 5% back on your top eligible spend category (including gas) up to $500/month. With no annual fee, why not make this your primary card just for gas? Though, they offer a great percentage off on groceries as well.

Finally, if adding more credit cards to your wallet isn’t your thing, consider buying a gift card at a discount as a work around. Costco, Sam’s Club and BJ’s often sell gift cards for less than face value example a $50 Shell gift card for $47.99.

You can also explore sites that sell gift cards secondhand like: Raise (raise.com), CardCash (cardcash.com), Gift Card Granny (giftcardgranny.com) and CardBear (cardbear.com)

Which of these gas saving hacks will you employ during your fill ups? Let us know at @Wealth_Elf