Focusing on the peak summer driving season, which begins on Remembrance Day weekend, gasoline prices show no signs of slowing down.
The average lead-free gas for the country reached a new high of $ 4.59 a gallon on Wednesday, with all 50 states above $ 4 a gallon, according to AAA data. Gas prices are now $ 1.56 more than a year ago and $ 1.05 more than they were when the war in Ukraine began in February, according to AAA spokesman Andrew Gross.
“This caused shock waves through the oil market, which kept the price of oil high,” he said. “Meanwhile, seasonal gas demand is rising in the country as more and more drivers hit the road, despite the pain they face paying for the pump.”
Although higher prices may cause holidaymakers to take fewer trips and travel shorter distances, AAA estimates that more than 39 million people will leave this weekend on Remembrance Day.
There is still an appetite for travel, according to a study by GasBuddy Summer Travel.
“We found that 58% of Americans plan to travel this summer, up from 57% last year, even facing the highest gas prices ever,” said Patrick De Haan, head of oil analysis at GasBuddy.
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“What we have noticed is that drivers will travel a little less, with 65% taking only one or two trips,” De Haan said.
The most frequent driving time will be between two to three hours and more than five hours, GasBuddy found.
6 simple hacks to save gas
If you are planning to set off this weekend, there are ways to protect yourself to some extent from rising pump prices. Here are the best tips from consumer savings expert Andrea Voros:
- Refuel in the middle of the week. Defeat the crowds and save by filling up sooner or later. Gas costs will continue to rise throughout the week and will rise on Friday, so it’s better to get gas now before speed, Woroch said.
- Take the setting. From properly inflating tires to making sure the engine runs smoothly, tuning can be the key to better gas mileage. Other tricks to maximize fuel economy include closing windows to reduce drag and adjusting cruise control when possible to avoid excessive braking and acceleration.
- Track gas prices. Apps like GasBuddy, Gas Guru and AAA TripTik can track which gas station has the lowest price per gallon. This is especially useful when trying to avoid these expensive gas stations just off the highway.
- Pay with cash. The price can be 10 to 15 cents more per gallon for credit card transactions. Instead, pay with money to get the lower price or use a credit card for gas rewards to earn money back for these fees. Select on CNBC has a complete set of the best charging cards based on your user habits.
- Sign up for loyalty programs. Many large gas station chains have loyalty programs that can help offset the cost of the pump. Some grocery chains may also offer cent-gallon prizes. For example, Kroger and Shop & Stop provide fuel points for every dollar spent on groceries that can be redeemed at participating gas stations.
- Stay closer to home. You don’t always have to drive far to get away. Try the RoadTrippers app to plan shorter trips that are just as useful. You may be surprised at all the things you can see and do a short drive from home, Woroch said.
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