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Gas prices are likely to continue climbing through 2022: Here's how to save at the pump Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our aim is to assist you make better financial decisions by providing you with interactive tools and financial calculators that provide objective and original content. We also allow you to conduct research and compare data for free and help you make financial decisions with confidence. Bankrate has partnerships with issuers including, but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Money The offers that appear on this site come from companies that compensate us. This compensation could affect how and where products appear on the site, such as, for example, the order in which they may appear in the listing categories in the event that they are not permitted by law. Our loan products, such as mortgages and home equity, and other products for home loans. But this compensation does affect the content we publish or the reviews that you see on this site. We do not contain the vast array of companies or financial offers that may be accessible to you.
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4 min read Read Published August 14, 2022
Authored by Rebecca Betterton Written by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers to navigate the details of borrowing money to purchase an automobile.
Editor: Rhys Subitch Edited by Auto loans editor
Rhys has been writing and editing for Bankrate from late 2021. They are committed to helping readers gain the confidence to control their finances through providing concise, well-studied and well-researched content that break down complex topics into manageable bites.
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People across the U.S. have been dealing with record-high gas prices on the market this year. However, in the past month, despite a decrease in demand, prices have finally begun to drop somewhat, giving drivers a bit of relief. The national average cost for a gallon of regular gas is now $4.13, . At the start of August, prices were lower by 63 cents over a month earlier. However, the damage is being done in various ways, as prices for gasoline are more expensive than they were one year ago. AAA found that many drivers have made major lifestyle changes to cope with rising gas prices which include driving less, combining errands and limiting shopping or dining out. Here are some additional ways to cut down on the cost of gas. 5 ways to save cash at the pump To save fuel and save money on gas, think about making a few changes to your usual driving. 1. Drive the speed limit No regardless of the efficiency of your vehicle, staying within the limits of speed will help you save money on fuel. Your mileage will drop if you drive over 50 miles per hour. Along with driving the posted speed it's recommended to stay clear of excessive acceleration or braking -- that can lead to lower gas mileage. 2. Find the most affordable alternatives before you go to the next gas station that you come across look up the cheapest alternatives in the vicinity. Download apps such as GasBuddy, Gas Guru and the AAA app to find out where the lowest gas costs are in your vicinity. 3. Stick with regular gas options If your vehicle doesn't require premium gasoline, there is no need to dole out the additional money for the top option. Regular gasoline can reduce your expenses by 50 cents per gallon -- a small number that quickly adds up. 4. Join a rewards programme Many supermarkets offer rewards to drivers who fill up at their stations. Certain credit cards will also give points at the pump. If a traditional gas station is more your style then look for rewards programs that are specifically tailored for the brand you favor such as the one 7-Eleven offers. 5. Make a plan of your routes in advance. To save money on gas and time in the vehicle, use apps like Waze to find the most efficient route available. Plan your route in advance to ensure you aren't wasting fuel by retracing your route to other regions. 6. Keep your tires at the proper pressure. If your tires aren't properly inflated, they could affect your car's gas mileage, which could reduce energy efficiency. Ensuring your vehicle's tires are aligned correctly can increase gas mileage. 7. Use cruise control . Driving with cruise control can help you keep a steady speed, which in turn will reduce the amount of gas that is used. 8. Reduce air conditioner use Using the air conditioner drains fuel more quickly due to the power of the engine required to operate the cooling system. Other methods to save money on vehicle costs It's true that the power used to run your vehicle can be expensive, especially in the present as it's composed of several aspects. There are many other ways to save money while driving. Maintain your vehicle Keeping up to date on the will help you to avoid any unexpected problems. Try to get your vehicle checked by a professional couple of times per year to avoid any costly problems bound to come up down the road. Reduce the time spent on long journeys. More miles clocked on your odometer means more trips to the gas station -- but it also increases the risk for mechanical problems. If you're able to steer clear of it, this isn't the best time for a long road trip. It could also be a good time to carpool or rely on public transportation if it's there is one available. Shop for cheaper insurance If you've had the same insurance for more than a year or two, now might be a good time explore other options are available. You should compare quotes from several insurance providers to make sure you're getting the best deal. Refinance your car loan You may be able to negotiate more favorable terms and reduce your monthly payment by . This is especially relevant if you've improved the credit rating of your. Examine your credit report to see if you can save more money by refinancing. Gas price volatility is due to a combination of variables. Even though prices have declined however, the cost of a gallon of gas remains one cent more than the same time last year. And in many places it is estimated that the cost of one gallon of gas remains well above $4. California residents are still paying higher than $5.50 for a gallon. The high prices the nation is still facing are due in part to Russia's attack on Ukraine and resulting sanctions. These sanctions have caused an astronomical increase in the cost for crude oil. It acts as the primary fuel for powering many automobiles. When the cost of crude oil increases as do prices at the gas pump. The bottom line when it comes to owning a car the costs can be high - and the fluctuating cost attached to the gas pump can cause a great amount of stress. While gas prices are outside that of your reach, concentrate on the options that you have to make in order to cut costs. The changes you can make are looking around for the cheapest prices for gas in your area making sure you combine your errands with trips whenever possible, and maintaining your car in good condition.
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Writen by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers with the details of taking out loans to purchase the car they want.
Edited by Rhys Subitch Edited by Auto loans editor
Rhys has been writing and editing for Bankrate since late 2021. They are passionate about helping readers gain confidence to take control of their finances through providing precise, well-researched and well-studied facts that break down complicated subjects into digestible pieces.
Auto loans editor
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