Saving Money on Gasoline | Money Management | Exodus Lending - Exodus Lending

Saving Money on Gasoline

By Kaitlyn Szabo September 2, 2022

Although most of us don’t need someone to tell us prices have been increasing, decades-high inflation has been discussed frequently in the news lately. Among many other items, we’ve seen some record-high gasoline prices throughout the country. And while prices have stopped rising and are starting to come back down a bit, here are some strategies and tips to save money on gasoline in any economic environment.

Pay Less 

Cutting costs at the pump whenever possible – even just a little bit! – can help a lot with saving money on gas.

  • Review prices using cost comparison apps. Resources like Gasbuddy help you save by identifying the best deals in your area. Sometimes driving an extra mile or two for cheaper gas can lead to surprising savings.
  • Sign up for a fuel discount program. Many stores, like Hy-Vee and Cub, provide a certain amount off per gallon based on your in-store spending. If you already shop there, this can be a great way to save!
  • Plan ahead for longer car trips. Before traveling across state lines on a trip, use AAA’s average price information to be strategic about filling up the tank to avoid, if possible, higher taxes on gasoline. 

Drive Less

For many of us, choosing not to drive is not an option. But swapping out even a few car trips for an alternate transportation approach whenever possible can help you save money.

  • Carpooling with colleagues, family, and friends is a good way to share costs.
  • Walking, biking, or public transit may be an option for certain trips.
  • Combine trips for errands or activities near each other to save time, gas, and money.

Get More!

To improve your gas mileage and efficiency, practice safe driving habits.

  • Slow down. Consumer Reports found that decreasing speed from 75 mph to 65 mph improved gas mileage by six to seven miles per gallon. 
  • Drive smoothly. Limit the times you stop abruptly or step hard on the accelerator. Also, put away roof racks or other items that increase drag when not in use to increase fuel efficiency.
  • Keep up with maintenance. Gas isn’t the only expensive part of driving –  cars themselves are costly. Take time to prepare your budget for other car expenses, like regular maintenance.

Money Management E-Newsletter: July 2022