Gas prices fluctuate like the weather. All it takes is a war in the Middle East, the lack of confidence in the stock market, seasonal demand, or an oil spill in the Gulf of Mexico and BOOM! gas prices just went up. But why do gas prices fluctuate wildly from state to state, and region to region?
The price at the pump is mainly affected by crude oil prices along with supply and demand. Even when crude oil prices are stable, gas prices will change if something disrupts the supply. But why are prices sometimes radically different in the same neighborhood or even on the same street? For one thing, the retail price of gasoline is often higher in some states than others. Gas prices are also more expensive in areas that have fewer gas stations. Even gas stations that are in the same neighborhood, or on the same road, can have radically different prices based on traffic patterns. Or, one station might pay higher rent than another or one might have problems with its supplier.
In addition, gas is usually more expensive farther from the source. That's why gas prices along the Gulf Coast are cheaper than gas prices in the Midwest. The Gulf Coast is the source of about 26 percent of the gasoline produced in the United States, and oil refineries are located in that region. What's a motorist to do? Here are some ways to beat the system:
Get away from the highway -- Gas is usually more expensive near the interstate because real estate prices are higher than they are a few miles down the road.
Visit the wholesale clubs -- BJ's, Costco, Sam's Club and other wholesalers offer gas at a discount to members. Also, some grocery store chains provide "gas points" to shoppers who use their reward cards. You just have to fill up at a participating station. I save $.05 per gallon when I shop at Shell!
Pay cash -- Sometimes, there are stations that discount gas prices to customers who pay in cash.
Early bird gets the deal: Buy gas in the morning or late at night because most gas stations change prices during the day
Shop the other side of town: Visiting the "other side of the tracks" can save you money. In nicer neighborhoods, a gas station's overhead tends to be higher because land is more expensive and that cost is passed on to the consumer.
When you're on a road trip, take your latest gadgets and follow these tips:
Check the Web -- When the tank is low, check out GasBuddy.com and FuelMeUp.com. These sites study trends across the country and can direct you to the cheapest gas.
Choose your apps -- Apps use your smartphone's GPS to locate the cheapest fuel using information provided by other penny-pinchers. GasBuddy is one of the more popular apps. There are different versions available based on your device type.
Onboard systems -- GPS and other navigation systems can point the way to cheap gas. Some satellite radio systems have a travel data feature that can link you to price information as you drive. Just type in a ZIP code and fill'er up.
I will be using these tips myself in a few days as I embark on my first real road trip! Hope the information is valuable to you as well.
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