7 Tips to Save on Gas this Summer - Money Tip Tuesday

With gas prices on the rise, it’s more important now than ever to find ways to save some money not only at the pump but even while you drive. This tip shares some practical things you can do to save on fuel costs.  

• Calculate your vehicle's mileage per gallon: https://fueleconomy.gov/feg/savemoney.jsp
• Gasbuddy's article on the best day to buy gas: https://www.gasbuddy.com/newsroom/pressrelease/2022/02/01/1091
• AAA's TripTik homepage: https://triptik.aaa.com/home/
• AAA's gas cost calculator: https://gasprices.aaa.com/aaa-gas-cost-calculator/

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Transcript:

Welcome to Money Tip Tuesday from the Making Money Personal podcast.  

If you’ve been paying attention at the pump, you’re likely to have noticed the rise in the price you’re paying to fill up your tank. 

In many places across the country, gas has already topped $5 a gallon and may not stop there. The national average is at the time of this recording is $5.01, an all-time US high.  

This can land a huge blow for your expenses, especially if you’re on a tight budget.  

Fortunately, if you prepare and do a little research, there are some simple actions you can take to save a little money on gas.  

We hope you’ll find these helpful to keep your fuel expenses low, especially this summer.  

1. Make sure you keep proper tire inflation. Under-inflated tires increase your vehicle’s drag which increases your car’s fuel consumption. If you want your car to drive as efficiently as possible, make sure you check your tire pressure and do your best to keep them all properly inflated. Next time you’re at the gas station to top off your tank, head over to the air hoses and top off your tires too. 
   
   
2. Get on a gas station rewards program or other plan. Many gas stations have started offering discounts for buying from their chain. If you visit a particular station the most, you may want to consider signing up for their program. It may not save you an exorbitant amount, but with the current prices, anything saved counts. National retailers and membership stores also offer gas programs. BJs, and Walmart+ offer discount prices on gas as part of their membership packages.
   
   
3. Use an app to find low prices in your area. Using apps like Gasbuddy, Waze, and others offer insight into which stations have the lowest prices. They also offer other tips and tricks you might find helpful when you need to fill up. For example, Gasbuddy released a recent study that showed what days were the best and worst days to fill your tank, with Sunday being the best and Wednesday and Thursday being the worst.  
   
   
4. Carpool with others if possible. If you can hitch a ride with someone you trust, you both can benefit from the savings. This is a very real option if you and a friend or family member are heading to the same location. If it saves you some money overall, it’s worth consideration.
   
   
5. Avoid speeding, rapid braking, and long idling. The US Department of Energy states that for light duty vehicles, every 5 mph you drive over 50 mph will increase your price per gallon by $.18. And that’s when gas was around $2.63 a gallon! Gas mileage decreases the faster you travel so try to keep your speeds at a level to get the best fuel economy. For long trips, use cruise control to keep your car at a steady pace and get you the most mileage for your money. Other habits like rapid braking and idling will also waste gas, so make sure you’re mindful of how you’re driving your vehicle to save on gas.
   
   
6. Plan your trips and consider fuel costs. If you’re planning a road trip, long or short, consider the amount of gas you’ll be using. Planning your route ahead of time will give you an opportunity to consider the terrain and environment you’ll be traveling through. Will you be traveling through dense metropolises at rush hour? Will your trip be mostly highway? All these traffic routes and patterns have factors to consider, so the more you know about them, the better you’ll be prepared to face them. AAA has a gas cost calculator you can use to get a rough idea of your fuel costs when traveling to and from certain destinations and they also have a road trip planner app called TripTik that helps you plan everything from fuel expenses to food and lodging. 
   
7. Get to know your vehicle’s fuel economy. If you’re curious about what your gas mileage is, you can use a helpful calculator at fueleconomy.gov to find out. Simply enter your vehicle’s information to find out how many miles per gallon your car typically gets.  

As gas prices continue to climb across the country, it’s more important now than ever to pay attention to how much you are spending and to make a conscious effort to conserve as much fuel as possible. 

If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal FB page and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.  

Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.  

Have a great day!