Gas prices are as high as they’ve been in more than 19 months and projected to rise further due to the impending summer driving season, according to GasBuddy. But there is some good news.
A recent study by the tech company found that you can save money by buying gas at the beginning of a week.
Specifically, Monday offers the lowest average gas prices, while Thursday offers the highest, based on GasBuddy’s analysis of three years of gas price data. As the company notes:
“To put the amount of savings into perspective: If every U.S. motorist bought gasoline on Thursday for an entire year, they’d collectively spend an extra $1.1 billion versus filling up on Monday …”
The best day of the week for buying gas does vary from year to year and state to state. But the study concludes that buying gas earlier in the week — as well as shopping around for the lowest price — still will save money for “many motorists.”
GasBuddy, the company behind the free app of the same name, estimates that drivers can save an average of $325 per year by shopping around and using the GasBuddy app.
The app for Android and Apple mobile devices boasts “the most accurate, real-time fuel prices at more than 140,000 unique stations in the U.S., Canada and Australia,” among other crowd-sourced information about gas stations.
As we note in “5 Ways to Slash the Cost of Gas,” you stand to save a lot by using an app like GasBuddy or GasGuru.
Perhaps the easiest way to save a big chunk of change on gas, though, is by simply not paying extra for premium-grade gasoline if your car was designed to run on regular-grade gas.
Automotive News reported last year that buying premium would cost an average driver several hundred dollars more in 2016. AAA reported in the fall that American drivers are collectively wasting $2.1 billion per year on premium gas.
What’s your best tip for saving money on gas? Let us know below or on our Facebook page.