Ways to Save as Gas Prices Near Three-Year High

Author: Odysseas Papadimitriou
Published: March 31, 2012 at 4:44 am
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With the national average price for a gallon of regular gas having risen nearly 20 percent since New Year’s, according to AAA’s Daily Fuel Gauge Report, and rapidly approaching its three year peak, many consumers are feeling a bit light in the wallet. Not only has this resulted in more and more eyeballs on price projections, as if they’re classroom clocks on the last day of school, but it’s also led many to explore ways to save as the $4-gallon watch continues in anticipation of peak driving season – the summer.

Consumers are known to combat rising gas prices with lifestyle changes, and according to a AAA survey, recent sticker shock at the pump has already led 60 percent of people to consolidate their errands, 50 percent to cut down on shopping trips, 45 percent to eat out less often, and 34 percent to put off significant purchases in the hopes of saving.

Many are also coming to the realization that you can decrease how much you spend by simply making better choices in terms of how you go about spending it. For instance, cell phone applications like Gas Buddy that tell you where to find the cheapest gas in your area have certainly gotten a workout of late. Opting to pay with plastic rather than in cash also allows folks to subsidize their gas purchases with rewards earnings.

You’re likely familiar with credit cards that give you airline miles or hotel points in return for each dollar spent, but overshadowed by these flashy offers is the niche category of gas credit cards. In light of the current price of gas, the 5 percent savings that such cards have been known to provide can help put upwards of $120 back in your wallet each year.

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Article Author: Odysseas Papadimitriou

Odysseas Papadimitriou is founder and CEO of credit card comparison site, CardHub.com and personal finance social network site, WalletHub.com. https://plus.google.com/u/0/110754112600429713254?rel=author

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