Cheap Gas Prices

Everyone wants cheap gas prices, but this is one consumable that is a little harder to find bargains for than other things. Nevertheless, this article will try to give you some handy tools to understand the gas market more clearly and find as many discounts as you can.

Did you know more than 85 percent of the cost of gasoline is decided before your local station posts a price?

Supply and demand at the gas pump is only a fraction of what drives the cost of gas prices. Basically, there are four factors that affect whether or not we can find cheap gas prices.

Drivers’ consuming gasoline creates a demand, especially in the spring and summer, but that’s not the only link in this chain. Many products are made from refined crude oil, so if the demand falters in any of the other areas, it affects what we pay at the pump. In addition to gasoline, other chemical products, jet fuel, and heating fuel all sit on the teeter-totter of supply and demand.

It’s just like the game Monopoly: whoever owns the most properties with hotels can charge what they like. OPEC, the Organization of Petroleum Exporting Countries, is the best player now, controlling more than 65 percent of the world’s oil reserves and roughly 40 percent of oil production. Other factors, such as speculation of a shortage – similar to what happened in 2005 after Hurricane Katrina – can affect the cost as well. The prices are set, and then passed along to the gas retailers.

Local, state, and federal regulations require that better fuels be created to protect and improve air quality. Since circumstances vary considerably around the country, meeting the requirements poses greater challenges to companies that refine and distribute fuel.

American gasoline consumption continues to rise as the number of refineries in the country continues to decrease. With fewer companies to process the crude, distribution costs increase. Any downtime experienced affects production, and production delays, like any other industry, affect price.

Okay, that was just to see if you were still awake after reading all of that! But, here’s an interesting site if you want to learn more.

With a little knowledge and research, you can keep track of where to find cheap gas prices on a weekly, perhaps even daily, basis.

The Fuel Gauge Report, a service provided by AAA, has a function where you can put in your city or one close to you to determine current gas prices and how they will affect your budget.

A very popular site, Gas Buddy, relies on man-on-the-street reports in order to post the most current pricing. Those living in metropolitan areas can search by city to find cheap gas prices, but there is also a county-by-county breakout for each state. The site also reports traveler tips to finding the nation’s highest and lowest gas cities by state.

Gas Price Alert claims that it uses the same gas price reports as trucking companies, making it a more dependable source of information. The site requires free membership.

You many not be in control of what the market does, but you’re in total control of your gasoline consumption. Here are some tips to reducing your household’s average cost of gas:

• Change where you purchase gas. What may be more convenient may not be the least expensive. It doesn’t make sense to go completely out of your way to fill up, but you should avoid freeway gas stations and those in highly consolidated or affluent areas, as they traditionally charge more.
• Take care of your car. Low tire pressure, dirty oil and air filters, too much time between tune-ups, and excess weight in the vehicle all suck up more gas than necessary.
• Consolidate your errands. Instead of running out every day at lunch or zipping around after work, pick one day during which all your errands by car will be handled. This includes not driving all over town looking for cheap gas prices!
• Walk or bike. If you live within three miles of a shopping center, don’t drive there. Combine your workout and your grocery shopping by walking or biking to the store. You’ll save time, gas, money, and improve your health.
• Form a carpool. If you have an active family, create a weekly carpool schedule with some other families sharing in the same events.
• Consider public transportation. Granted, there are many small and mid-size communities that do not have a good system, but do some research into the options. Your company may also subsidize your efforts.
• Buy a more fuel-efficient vehicle. Monster trucks, ancient Cadillacs, high-rise SUVs – these vehicles and others like them have large appetites for gasoline. If you’re truly concerned about finding cheap gas prices, remember that a nickel off per gallon only adds up to $1.50 in savings if you have a 30-gallon tank. Check out the article on Cars with the Best Gas Mileage for a great list of options.

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